Opportunities To Part Buy-Part Rent In Berkshire

Posted 21 January 2021 by Keith Osborne

There are a number of homes perfect for first-time buyers in Berkshire, available through the trusted Home Reach initiative...

The growing Home Reach scheme run by housing provider heylo has been providing house-hunters in Berkshire with an effective way of taking a first step on the property ladder through ‘part buy-part rent’.

Heylo partners with housebuilders to provide an opportunity for first-time buyers with a modest budget to acquire the home they want by purchasing a share of it and paying a reduced rent on the remainder. This way of doing things is cheaper than buying or renting in full – and it only requires a deposit of 5% of the share being purchased. You can find out if you qualify to apply to Home Reach here.

Archfield Lodge, a Linden Homes development in Warfield, has a number of ground- and first-floor, two-bedroom apartments via Home Reach. These are priced at £170,000, which is a 50% of the full market price, and need a deposit of just £8,500. This compares to the £34,000 deposit which would be required for the more traditional 10% needed on buying 100% of the home.

Plot 49 is one of the Home Reach apartments. It features a spacious kitchen/dining/living area, a contemporary bathroom, and the bonus of an en suite shower room to the master bedroom. Every home needs storage and you will find a useful cupboard accessible from the hallway. Plus, this apartment comes with two allocated parking spaces.

Set within green space, this development has a number of amenities within walking distance including a doctors’ surgery, library, and Tesco Superstore. A selection of ‘Outstanding’ and ‘Good’ Ofsted-rated schools are nearby for families. Being just north of Bracknell, Warfield is easily commutable to towns and cities such as Reading and London.

Cricket Field GroveCricket Field Grove

There are also apartments on sale through Home Reach at Cricket Field Grove in Crowthorne, a Barratt Homes development south of Bracknell in Crowthorne, near Sandhurst. These start at £111,995 for 50% of Plot 66 (full market value, £223,990), which has an open-plan kitchen/living/dining room with a private patio, a bathroom and generous double bedroom. It also comes with an allocated parking space. Heylo’s calculation says this could be purchased with a household income of £30,024). At the top of the Home Reach selection here right now is Plot 81, a two-double-bedroom apartment on the second floor which an open-plan kitchen/dining/living room, Juliet balcony, and comes with a single carport and parking space. There’s currently an offer of £1,000 towards moving fees.

Cricket Field Grove is within easy reach of the town centre, well served by shops, amenities, pubs and places to eat. The railway station is on the Reading-Guildford line and there are a range of regular bus services. By road, the M3 an M4 and both under 15 minutes away.

Find out more about Home Reach developments in Berkshire.


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