East Midlands Developments That Offer Home Reach

House-hunters in the East Midlands with ambitions for homeownership on a modest budget will find chances to ‘part buy-part rent’ brand new homes at developments across the region thanks to Home Reach.

For buyers who meet the eligibility criteria, Home Reach is 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%.

In Ruddington, just six miles from Nottingham city centre, is Blacksmith’s Green. The local area is served by shops, pubs and places to eat, a community centre, and village hall. The completed development with comprise 56 new homes with styles and sizes to suit everyone. Home Reach is not limited to small starter homes and is available on the ‘Pembroke’, a four-bedroom family home. This has an open-plan kitchen/dining/family room, utility room, lounge, study, cloakroom, family bathroom and four sizeable bedrooms, one with en suite. A 50% share is from £237,498, based on a full market value from £474,995, and would require a minimum of 5% deposit from £11,875.

Edwalton Fields

Edwalton Fields is on the outskirts of Nottingham and part of a bustling community with a local shop, post office, pharmacy and schools. You'll also find supermarkets and leisure facilities within easy reach. A three-bedroom ‘Magnolia’ is available at £159,998 for a 50% share, based on a full market value of £319,996, and comes with sitting room, kitchen/dining room, cloakroom, two double bedrooms, a single bedroom and a family bathroom. An alternative is the ‘Hazel’, which has a larger, similar layout. A 50% share of this home is from £172,498 (full market value from £344,996).

Kirton in Lindsey is a market town in north Lincolnshire and here, house-hunters will find Tudor Reach. Offering some good local amenities, it’s also just a few miles south of Scunthorpe and north-east of Gainsborough. One of the house types currently available through Home Reach is the ‘Nettleham’. Off the hallway at the front of the property is the fitted kitchen, which comes with plenty of worktop and storage. The separate living/dining room has French doors to the rear garden. The ground floor also has a WC, and a useful cupboard under the stairs. Two of the three bedrooms are doubles, one of them having an en suite and built-in wardrobe. There’s also a family bathroom. The home is priced at £84,975, based on 50% share of a full market value of £169,950, and would require a minimum 5% deposit of £4,249. An alternative to consider is the ‘Bennington’. This terrace house has a living/dining room with French doors to the rear garden, a separate kitchen, a utility space and downstairs WC. Upstairs are the family bathroom, two double bedrooms (one with en suite and built-in wardrobe) and a single bedroom which could make a perfect home office. A 50% share is priced from £89,498 (based on a full market value of £178,995), which will require a minimum 5% deposit from £4,475.

The Pastures

The Pastures is a development of two- and three-bedroom homes located in the thriving village of Bilsthorpe, overlooking scenic Nottinghamshire countryside and within easy reach of numerous towns and cities. Here, the ‘Cork’ will make an ideal choice for an individual buyer or couple, being a two-bedroom home with a lounge leading to a kitchen/diner at the rear. There’s also a downstairs cloakroom and a bathroom. This home is priced from £80,498 for a 50% share (full market value from £160,995). A larger option is the ‘Lisburn’ which has kitchen/dining room with French doors to the rear garden, a living room at the front, two double bedrooms, a single bedroom, a bathroom and a downstairs WC. A 50% share of this home starts from £89,998, based on a full market value from £179,995.

Derbyshire house-hunters will find Home Reach at Babington Quarter, close to Alfreton and just minutes from the M1, so that in addition to its own amenities and schools, many more are easily reached at other towns and cities. The ‘Queenbridge’ is a three-bedroom house type where a 50% share starts from £108,969 (full market value from £217,938). The ground floor is an open-plan kitchen/dining/living room, off which is a cloakroom and understairs storage, while off the upstairs landing are the bathroom, two double bedrooms (one with en suite) and a single bedroom.

Find out more about Home Reach developments across the East Midlands.

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