Chances To ‘Part Buy-Part Rent’ In The East Midlands

Housing provider heylo is teaming up with housebuilders to offer its Home Reach part buy-part rent scheme at a whole range of developments across the East Midlands region.

Home Reach gives buyers who meet the eligibility criteria the opportunity to ‘part buy-part rent’ a brand new home. You can purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with heylo as the landlord. The scheme is offered on selected plots at a development 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%.

Here are just a few current examples.

Just released are homes at Nightingale Quarter in Derby, a major development of nearly just moments from the city centre and less than 30 minutes’ drive to the Peak District National Park. Here, the ‘Taylor’ is available for £96,500 (based on 50% share of a full market value of £193,000). Downstairs in a cloakroom and open-plan kitchen/dining/living room with French doors to the garden, upstairs are two double bedrooms and the family bathroom. Alternatively, the ‘Lloyd’ is a three-bedroom house which has an open-plan kitchen/dining/living room, downstairs WC, turfed rear garden and a family bathroom. Two of the bedrooms are doubles, the other a single or potential home office. This is priced at £115,000 for a 50% share (based on a full market price of £230,000.

‘Benington’ at Tudor Reach

Tudor Reach is taking shape in Kirton in Lindsey, a small town in North Lincolnshire which is under half-an-hour from the likes of Scunthorpe, Gainsborough and Lincoln. There are a couple of three-bedroom house types available with Home Reach. Priced at £82,500 (based on 50% share, full market value £165,000), the ‘Nettleham’ has living/dining room, separate kitchen, downstairs WC, family bathroom and bedroom one has an en suite shower room. Through the front door of the ‘Benington’ and it’s the fitted kitchen and it’s past a WC/utility room to the living/dining room at the rear, with French doors to the garden. Upstairs, bedroom one has built-in wardrobe and an en suite, the other two bedrooms sharing the family bathroom. It’s £86,750 for a 50% share of this home, based on a full market price of £173,500.

‘Leverton’ at Blacksmith's Green

Blackmith’s Green is located in Ruddington, a well-served situated just six miles from Nottingham city centre. Here, there’s an opportunity to purchase an ideal family home with a minimum of 5% deposit of £9,750. The ‘Leverton’ house type is an impressive, double-fronted detached home. Off one side of the hallway is the dual-aspect kitchen/dining room which comes with a useful utility room. On the other side is a living room with French doors to the rear garden, while at the front is a dedicated study. Three of the four bedrooms are doubles and bedroom one has an en suite.

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

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