Part Buy-Part Rent An Apartment in Berkshire

Posted 26 November 2020 by Keith Osborne

Barratt Homes is offering the Home Reach scheme at a development in Crowthorne to help first-time buyers...

Barratt Homes is offering qualifying house-hunters the opportunity to move into a brand new apartment in Crowthorne through a part buy-part rent initiative, requiring a much smaller deposit and mortgage than purchasing outright.

The scheme is called Home Reach, a partnership with affordable homes provider heylo housing, and it is available on a number of properties at Cricket Field Grove. Each of them is a two-bedroom apartment in Boundary Court, and prices with Home Reach range from £141,995 to £144,995 to own a 50% share (based on full market prices of £283,990 to £289,990 respectively). For the other 50%, residents pay a competitive rent. Home Reach is available to first-time buyers with a £36,173 household income, subject to terms and conditions. These apartments have two double bedrooms, open-plan kitchen/dining/living room and allocated parking for two vehicles.

Take a virtual tour around a two-bedroom apartment show home at Boundary Court, which you can visit in person by appointment seven days a week.

Over 90% of the development is now reserved but there are still a few opportunities to secure one of these final homes, with some ready to move into.

Located in the east of the village, these new homes are just a short walk from the village high street but surrounded by beautiful woodlands which are perfect for long walks or bike rides. It’s around 30 minutes’ walk to Crowthorne station (10 minutes by bike, five minutes’ drive) which is on the line from Redhill to Reading. The busy towns of Bracknell and Wokingham are both around four miles away and within 15 minutes you can be on the M3 or M4.

Find out more about Cricket Field Grove from Barratt Homes.

 

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A Guide To Part Buy Part Rent
Part Rent Part Buy is a scheme you can use with Home Reach where 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 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.

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