Offers On Home Reach Properties Across The West Midlands
For house-hunters in the West Midlands region on a modest budget, there’s a chance to ‘part buy-part rent’ brand new homes at a number developments, thanks to Home Reach.
Buyers who meet the eligibility criteria, Home Reach have 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%.
On selected plots across these sites, when you reserve before 30 April 2022 you will receive flooring and £1,000 towards your legal fees (subject to terms and conditions).
Within walking distance of Birmingham city centre, Berrington Place could offer first-time buyers a perfect choice with a range of one-bedroom apartments. The ‘Type A’ has an open-plan kitchen/dining/living space and double bedroom and has a specification including a Symphony fitted kitchen with a range of integrated appliances, flooring included throughout and contemporary white sanitaryware to the bathroom. A 40% share of this home is £73,200 (based on a full market value of £183,000) and would require a minimum of 5% deposit from £3,660.
Fletcher's Rise is in Wombourne, around five miles from the centre of Wolverhampton, and is currently offering a bungalow on a ‘part buy-part rent’ basis. It is called the ‘Elm’ and it is priced at £145,438 for a 40% share (full market value £363,595) which has an open-plan kitchen/dining/living room, downstairs cloakroom, two double bedrooms and bathroom. This will require a minimum of 5% deposit of £7,272.
‘Shenstone’ house type
Also with a bungalow option is Pear Tree Walk, situated in the Worcestershire village of Drakes Broughton, which has some excellent amenities of it own and is also within easy reach of Pershore, Worcester and the M5. The ‘Shenstone’ offers lateral living. This double-fronted has the kitchen-diner off one side and a single bedroom – or home office – off the other. At the back of the home are a living room from French doors to the garden, and the main bedroom, which comes with en suite shower room. A family bathroom and useful storage cupboards complete the layout. This is priced from £155,000 for a 50% share, based on a full market value from £310,000. The buyer will require a minimum of 5% deposit from £7,750.
Staffordshire house-hunters can consider Lawton Green is Alsager, a town with its own range of shops and places to eat, and within easy reach of Crewe and Stoke-on-Trent. The semi-detached ‘Baird’ might be what you’re looking for. This semi-detached house has a cloakroom off the hallway and a spacious lounge at the front, with the kitchen/dining room at the back leading to the garden. Two double bedrooms and a single bedroom share the family bathroom. With Home Reach, a 50% share starts from £79,998 (full market value from £159,996), with a minimum of 5% deposit from £4,000.
The Pavilions is under a mile from Kenilworth town centre, located next to the cricket club. A 50% share of the ‘Rowan’ is priced from £205,000, based on a full market value from £410,000. The kitchen is at the front of this house type and it opens out to the living/dining room. Also downstairs are a cloakroom and some handy storage under the stairs. On the first floor are two double bedrooms (one with en suite), a single bedroom and a family bathroom.
Cliveland House
Cliveland House has a sought-after location on a quiet stretch of canal within Birmingham’s historic Gun Quarter, just a 10-minute walk from Snow Hill station and the trendy Jewellery Quarter. On Home Reach here is a two-bedroom apartment with a great specification and an open-plan kitchen/diner/living area, bathroom and built-in storage. Prices start at £132,500 for a 50% share based on a full market value from £265,000, requiring a minimum of 5% deposit from £6,625.
In Radford Semele, just a mile from Leamington Spa, Crown Hill Gardens has three-bedroom homes available on a ‘part buy-part-rent’ basis. The ‘Larch’ has a kitchen/dining room with bifold doors to the garden, a separate sitting room, a cloakroom, dedicated study, and bedroom one comes en suite and dressing area. Prices start at £230,000 for a 50% share (full market value from £460,000).
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