Home Reach Apartments Available In Surrey
Would-be homeowners in Surrey looking for an affordable first step on the property ladder should investigate a series of apartments which are currently available around the county through the special Home Reach initiative.
Buyers who meet the eligibility criteria for Home Reach have an opportunity to purchase a share of a new build home (usually, but not always, between 50% and 75%) 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%.
Carrington Place is in Redhill, a town not only with its own great range of amenities and things to do, but also very well connected by rail and road to London, other parts of Surrey and the rest of the Home Counties. Residents at this development are within walking distance of numerous shops, amenities, schools and sports facilities as well as places to go out for entertainment. A two-bedroom apartment in Corfe House has a dual-aspect kitchen/dining/living room, double bedrooms with an en suite to bedroom one, a bathroom and some very useful storage off the hallway. Outside is a private parking space. Prices start at £155,000 (for a 50% share based on a full market price of £310,000), which will require a minimum 5% deposit of £7,750.
Also in Redhill is The Picturehouse, a town-centre apartment development which is already 70% sold. While there are still some final opportunities to purchase 100% of a home using Help to Buy, or a discounted price through First Homes, there are also one- and two-bedroom properties for sale via Home Reach. For a 35% share of a one-bedroom home, prices start from £96,250 (full market value from £275,000, and requiring a minimum 5% deposit from £4,813) for a well-specified property with double bedroom that comes with built-in wardrobe, an open-plan kitchen/living room with private outside space, a bathroom and utility/storage cupboard off the hallway. A 40% share of a two-bedroom property starts at £144,400 (full market value from £361,000, requiring minimum deposit from £6,318). Both bedrooms are doubles, with en suite and fitted wardrobe to one of them, and there’s a balcony or terrace off the open-plan kitchen/living room.
Mindenhurst
On the other side of Surrey in Deepcut, close to Camberley and Frimley Green, and Mindenhurst is a current development working with Home Reach to offer the opportunity to part buy-part rent. The larger development is located on the British Army’s former Princess Royal Barracks, will feature a range of facilities including a primary school, pub, shops, sports and play areas, plus woodland walks and cycle paths. On the doorstep and surrounding towns are a host of useful facilities and things to do in leisure time. Right now, there’s a chance to use Home Reach on a one-bedroom apartment in the Cyprus House block for from £143,750 for a 50% share (full market value from £287,500, which would require a minimum 5% deposit from £7,188. The property has a kitchen/dine with private balcony, a double bedroom, a bathroom and built-in storage,
Finally, Heron House is in Busbridge, boasting proximity to charming and well-served Godalming as well as the South Downs National Park. The main town has a station with frequent services into London Waterloo and the surrounding area offers a host of amenities and things to do. The starting price at this development is £165,000, which represents a 50% share of a one-bedroom apartment with a full market value of £330,000. This would require a minimum deposit from £8,250 for a property with a kitchen/living room with French doors to a private balcony together with a double bedroom, a bathroom and utility storage cupboard.
Find out more about part buy-part rent homes available in Surrey.
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