Chances To ‘Part Buy-Part Rent’ In The South West

Housing provider heylo is teaming up with housebuilders to offer its Home Reach part buy-part rent scheme at a whole range of developments across the South West of England.

Home Reach gives buyers who meet the eligibility criteria the opportunity to ‘part buy-part rent’ a brand new home. You can purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with heylo as the landlord. The scheme is offered on selected plots at a development 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 just a few current examples.

Green Valley Meadow is in Lifton and is a collection of just 20 two-bedroom homes, ideal for first-time buyers. beautiful 2-bed new build homes built by Harrington Homes. Ideal for first time buyers, expanding families and working professionals. This attractive village is just over a mile away from the A30, close to the border between Devon and Cornwall. These houses offer open-plan kitchen/diner, a separate living area, downstairs WC and built-in storage to the ground floor. Upstairs, the master bedroom has built-in storage and both bedrooms share a family bathroom. Through Home Reach, a 50% share is priced from £125,000 (full market value from £250,000), needing a minimum 5% deposit of £6,250.

Shorelands is a new development in the popular Cornish coastal town of Bude and within walking distance of two beautiful sandy beaches, with the bustling town centre and its range of shops and services also nearby. The ‘Hazel’ is an appealing three-bedroom house (either semi-detached or terraced) for sale through Home Reach. Its bright and airy layout includes a sitting room, an open-plan kitchen/dining room with French doors to the rear garden, and an en suite to bedroom one, with the other two bedrooms sharing the family bathroom. Prices for this start at £142,663 for a 50% share (full market value from £285,325), which will require a minimum of 5% deposit from £7,133.

Oaklands is close to Gloucester and is a collection of three-bedroom homes which offer proximity to the Cotswold Area of Outstanding Natural Beauty as well as useful things such as supermarkets, shops, a doctor’s surgery, village hall, community centre, health and fitness club and a library. The ‘Eveleigh’ is one example of the properties for sale there. It has a kitchen/dining room and a WC off the hallway at the front, a rear living room with a handy storage cupboard and French doors to the garden. Upstairs are the family bathroom and three bedrooms, one of which has an en suite shower room. Home Reach offers a 50% share from £141,400 (full market value from £282,800) and can be purchased with a minimum of 5% deposit from £7,070.

The ‘Aslin’ at Great Oldbury

Great Oldbury is near Stonehouse, Gloucestershire, and there’s a whole selection of two-, three- and four-bedroom houses coming there, to appeal to many buyers. In addition, there will be a new local centre, a purpose-built nursery, a pre-school and Primary Academy. There are a number of three-bedroom houses currently for sale through Home Reach. One example is the three-floor ‘Aslin’, which comes with an open-plan fitted kitchen/diner, separate living area, downstairs cloakroom, en suite to bedroom one and built-in storage on ground floor and landing. A 50% share is priced from £162,500, based on a full market value of £325,000, and will require a minimum of 5% deposit from £8,125.

Saxon Gate is situated in the south Gloucestershire village of Wickwar, with Chipping Sodbury and Charfield within easy reach and convenient access to the M4 and M5. There’s a perfect family home available through Home Reach here, the four-bedroom ‘Leverton’, in an attractive traditional-architecture design. It has an open-plan kitchen/diner with utility area, separate living space, a dedicated study and downstairs cloakroom, and upstairs the master bedroom comes with en suite and there’s a family bathroom. This home is priced from £260,230 for a 50% share of a full market value from £520,460. This would require a minimum of 5% deposit from £13,012.

Blackmore Meadows is a development situated on the edge of the small but bustling north Dorset town of Stalbridge, close to many shops and amenities, and within easy reach of surrounding towns such as Shaftesbury, Gillingham and Sherborne. The A303 and rail links are also not far away. Of the three- and four-bedroom houses available with Home Reach, top-of-the-range right now is the ‘Juniper’, ideal for families. This has a kitchen/dining room with bifold doors to the rear garden, a separate lounge, a study, downstairs WC, four bedrooms (one with en suite) and a family bathroom. This is on the market for £197,000 for a 50% share (full market value £394,000) and will need a minimum of 5% deposit from £9,850.

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

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