Part Buy-Part Rent A New Home In The East Of England

The full market price of a new home might need too much of a deposit and too big a mortgage for many people’s budget, but the Home Reach scheme is something that could help make a dream come true at certain developments in Cambridgeshire and Suffolk.

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%.

Whittlesey Green is located just east of Peterborough in the market town of Whittlesey and could be the ideal combination of a countryside setting but within easy reach of one of East Anglia’s major urban centres. The market town of Whittlesey has its own good range of shops, amenities and well-regarded schools.

The ’Chester’ is a three-bedroom home that offers an open-plan living/dining area, a separate kitchen, downstairs cloakroom, utility area and a master bedroom with en suite and fitted wardrobes. Through Home Reach, A 50% share is priced from £132,498, based on a full market value (based on any which options and upgrades you might choose) from £264,996.

Ipswich has everything you might expect of a county town, with lots of offer residents and convenient connections by road and rail to ports, towns and cities further afield. With its own waterfront (which has successfully undergone impressive regeneration) and the coast and protected countryside within easy reach, it could be ideal for buyers keen on the outdoor life.

Henley Gate is a popular new development, part of the first phase of new houses for sale being brought to the northern fringe of the town. The new community will offer attractive landscapes and focus on the garden city principles, with tree-lined streets, country parks, a primary school, local centre and green open space. ‘The Dromer’ comes with its own garage and is set over a drive-through. It comprises an open-plan kitchen/diner/living area, two double bedrooms (one with an en suite shower room), a second double bedroom, and a family bathroom, all complemented by some useful built-in storage. The is priced from £117,500 for a 50% share (full market value from £235,000), which will require a minimum 5% deposit from £5,875.

Find out more about current Home Reach developments across the East of England.

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