Part Buy Part Rent Homes for Sale

If you want to buy a new home but you can’t currently afford an entire deposit or full mortgage, part-owning a property is a fantastic option.

Find a home available to purchase through the Part Buy Part Rent scheme now and get a boost up the property ladder. Search available homes now:

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Home Reach is about making home ownership possible.

With Home Reach you buy a share of your chosen newly built home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home. You are able to buy a share as small as 25%, or as big as 75% with this support scheme, and pay rent on the rest.

You are able to purchase your share in either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will need to allow for a minimum of 5% deposit. The larger your deposit (typically 10%) the lower your mortgage repayments are likely to be.

Starting shares vary across developments. For more information on the shares available, the sales representatives at the development you would like to buy at will be able to guide you.

You can also download a free comprehensive guide here.

Why should you choose Home Reach and Part Buy Part Rent?

Security

Part buy part rent provides the security of home ownership, even if you only own a small share of your property. When you purchase a Home Reach property, you are granted a lease by heylo housing on the remaining part you pay rent on.

This gives you the ability to make concrete plans for the future, from raising a family to redecorating your home, without having to worry about a private landlord serving you notice on your home.

Freedom

Home Reach gives you the freedom to personalise your home. Rented properties often restrict your ability to make improvements, making it feel like you never really settle—but with Home Reach properties, you can decorate and even transform existing spaces in a way that reflects your own tastes, truly making your house a home.

What’s more, home improvements can add significant value to your property’s asking price.

Affordable

Deposits for Home Reach properties can be significantly lower than those for equivalent properties purchased via a traditional mortgage.

This is because Part Buy Part Rent deposits are determined by the share of the property you buy, not the value of the property you wish to live in. For example, if you were chose a £200,000 property, with a 50 per cent share of a property, you would need to pay a minimum 5% deposit. This would cost you £5,000, but with a traditional mortgage, you’d have to

Staircasing

Staircasing relates to the process of increasing your share in your purchased property. Depending on your budget and financial situation, you can purchase a Home Reach property share as small as 25% with a 5% deposit on that share, and pay rent on the rest.

Over time, you can increase your share whenever you want, all the way up to 100%, at which point you stop paying rent and only pay your mortgage on the entire property.

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