Developments Offering Home Reach In The South West

For house-hunters on a modest budget looking for a brand new home in the South West of England, there’s a chance to ‘part buy-part rent’ at developments in the region thanks to Home Reach.

For buyers who meet the eligibility criteria, Home Reach is an opportunity to purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with housing provider heylo as the landlord. The scheme is offered on selected plots at developments across England and provides all the benefits of homeownership but requires a much smaller deposit (5% of the share price) and a smaller mortgage than when purchasing outright. Over time, owners can buy further shares as their budget allows, until they own 100%.

Here are a few examples of brand new properties available through Home Reach in the South West.

Somerset

Situated on the outskirts of Wells, Priory Fields is a collection of two-, three- and four-bedroom homes with a semi-rural location and excellent road links with Taunton, Bristol and Bath. The ‘Poplar’ is a townhouse type which starts at £154,373 for a 40% share (based on a full market value from £385,933). It has an open-plan kitchen/family room, and cloakroom, on the ground floor; sitting room, bathroom and bedroom on the first floor; and two double bedrooms on the second floor, one of which has an en suite. The buyer will need a minimum of a 5% deposit of £7,719.

Dorset

Blackmore Meadows is located in the picturesque Blackmore Vale, on the edge of the Dorset town of Stalbridge, with an array of shops, a supermarket, pubs, a primary school, sports clubs and community groups and facilities. Three- and four-bedroom homes are for sale here. At £170,000 (based on a 50% share of full market value of £340,000) is the semi-detached ‘Hazel’, with three bedrooms (one with en suite), kitchen/diner and separate sitting room. There’s a four-bedroom choice too, the detached ‘Juniper’, from £157,600 for a 40% share of the full market value of £394,000, which has an en suite master bedroom, a dedicated study and bifold doors from the kitchen/dining room to the rear garden.

Boulevard View

Bristol

Just outside the city is Boulevard View within easy reach of the shops and amenities of Southville, the campus of City of Bristol College, South Bristol Community Hospital and acres of green space. With Home Reach, a 40% share of two-bedroom apartment here starts at £86,000 (full market value from £215,000). Both bedrooms are doubles and there’s also an open-plan kitchen/living/dining room and a family bathroom.

Devon

Green Valley Meadow is a boutique development of just 20 new homes located just a few miles from Launceston and a mile from the A30, making it an ideal place from which to commute to a number of major towns. One of the properties here could be a perfect starter home, with living room at the front, kitchen/diner and cloakroom at the rear, two double bedrooms and a family bathroom. Prices start at £125,000 for a 50% share (full market value from £250,000), which would require a minimum of 5% deposit from £6,250.

Gloucestershire

Home Reach is widely available around Gloucestershire but one of the highlights is Great Oldbury, a growing community with its own local centre, a purpose-built nursery, pre-school and Primary Academy. It’s just a five-minute drive from Stonehouse and five miles from Stroud. For buyers wanting flexibility, the three-story option of the ‘Aslin’ could be ideal. This has the kitchen/dining room and living room on the ground floor, three bedrooms and a family bathroom on the first floor and an en suite bedroom on the top floor. It is priced at £130,000 for a 40% share, based on a full market value from £325,000, and would require a minimum of 5% deposit from £6,500.

’Hazel’ house type

The ’Hazel’ house type is also available at Millfields in Cam, with £159,000 securing a 50% share of the full market value of £318,000 on a property which has three bedrooms (one with en suite), kitchen/diner and separate sitting room.

Saxon Gate is in Wickwar, which offers lovely surrounding countryside, some high-quality local schools, and proximity to Chipping Sodbury, Charfield and major roads to more distant locations. The ’Ripley’ is a rare example of a five-bedroom home available through Home Reach. A 40% share starts at £213,736 (full market value from £534,341, minimum 5% deposit required from £10,687). This three-storey house type has a living room and kitchen/dining room on the ground floor, family bathroom and four bedrooms (one en suite) on the first floor, and the top floor dedicated to the en suite principal bedroom.

Wiltshire

Longhedge Village is taking shape just three miles from the historic and well-served city of Salisbury. The development itself is creating a community of its own, with planning for a new school and a playpark. The ‘Cypress’ house type is available through Home Reach, a detached property with a utility room off its kitchen/diner, a separate living room, two double bedrooms (on with en suite shower room), a single bedroom and a family bathroom. This home starts from £214,383 for a 50% share, based on a full market value from £428,766 and will require a minimum of 5% deposit from £10,719.

Find out more about current Home Reach developments across the South West of England.

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