Home Reach Opportunities In The Home Counties And London

The Home Reach initiative – where first-time buyers can ‘part buy-part rent’ a brand new home – is a growing scheme that is becoming ever-more popular at developments in expensive property markets such as those in the Home Counties and outer London.

Home Reach is a partnership between housing provider heylo and a number of housebuilders across England. It is open to first-time buyers who meet the eligibility criteria on selected plots and is a way of purchasing a share of a new build home (usually starting at 50%) and paying a subsidised rent on the remainder, with heylo as the landlord. This provides all the benefits of homeownership but requires a much smaller deposit and mortgage than purchasing outright. Owners can buy further shares as their budget allows, until they own 100%.

There’s a final chance to purchase with Home Reach at Linden Gardens in Carterton, near RAF Brize Norton in Oxfordshire, which is providing 32 dwellings including a mix of three-bedroom homes. There are shops and school nearby, as it the Cotswolds and the travel connectivity of the A40. It’s a development which has been very popular with young families in particular.

The ‘Beckley’ is a three-bedroom semi-detached house which is on the market for £177,500 for a 50% share (full market price £355,000). This would require a minimum deposit of £8,875 and has an estimated monthly cost of £1,332. This traditionally styled home has, on the ground floor, an open-plan kitchen/dining room, separate living area, downstairs cloakroom and built-in storage while upstairs are three double bedrooms, the family bathroom and more built-in storage to the landing area.

For someone preferring apartment living, there’s also just one more chance at Colwell Green in Witney, Oxfordshire. This is also on the edge of the Cotswolds and within easy reach of Oxford. The final apartment in contemporary-designed Hartington House has a flexible open-plan layout to suit a multitude of lifestyles, and has full-height windows to maximise natural light. There’s a kitchen/living/dining room, two spacious double bedrooms (one with en suite), and a bathroom and an en suite. A 50% share is priced from £128,500 (based on a full market value of £257,000). This requires a minimum deposit of £6,425 and has an estimated monthly cost of £977.

In Hampshire is Whiteley Meadows, not far from the River Hamble and situated midway between Portsmouth and Southampton, both within 20 minutes or so via the M27. Closer to home, there’s a pub down the road and nearby Burlesdon offers cafés, bars and restaurants, while a good choice of shops and eateries can also be found at Whiteley Shopping Centre, less than a 10-minute drive away.

The ‘Hamble’ is a three-bedroom, three-storey home with an open-plan living/dining area, separate kitchen, cloakroom and built-in storage to the ground floor, two bedrooms, a bathroom and more storage on the first floor and a top floor dedicated to the en uite master bedroom. This is priced at £190,000 for a 50% share (full market value from £380,000), requiring a minimum deposit of £9,500 and with and estimated cost from £1,423pcm.

In Pinner, in the north-west London Borough of Harrow, is Trinity Court, an apartment development within walking distance of the area’s excellent amenities and convenient transport links to the centre of the city.

A two-bedroom apartment here has just been launched with Home Reach. This offers an open-plan kitchen/dining/living area, contemporary-design bathroom, and two double bedrooms, and has a specification that includes a secure entry system and underfloor heating. Residents have a landscaped communal garden and lift access to all floors. A 50% share is priced from £225,000 (full market value £450,000), with a minimum 5% deposit of £11,250 and an estimated monthly cost from £1,677.