Part Buy-Part Rent Homes Available In Lancashire
First-time buyers in Lancashire on a modest budget can get on the property ladder right now at a range of developments across the county thanks to Home Reach.
Home Reach is a partnership between housing provider heylo and a number of well-known housebuilders. The scheme is open to first-time buyers who meet the eligibility criteria and is a way of purchasing a share of a new build home and paying a subsidised rent on the remainder, with heylo as the landlord. It offers all the benefits of homeownership but requires a much smaller deposit and mortgage than purchasing outright. If they wish, owners can later buy further shares as their budget allows, until they own 100%.
There’s an impressive selection of properties for sale with Home Reach in Lancashire.
Holbeck Park is a development in Burnley and has a great range of properties available on a part buy-part rent basis. These include: the ‘Cork’ which comes with living room, kitchen/dining room, downstairs cloakroom, two bedrooms and a bathroom, and is priced £56,498 for a 50% share (full market price £112,995); the impressive ‘Fergus’ with kitchen/diner, separate lounge, downstairs WC, two double bedrooms, one single bedroom, family bathroom and integral garage, priced at £71,498 (based on 50% share of £142,995 full market value); and the detached ‘Longford’, with lounge at the front, kitchen/dining room at the rear with separate utility room, a WC, two double bedrooms (one with en suite), two single bedrooms and a bathroom, which is priced at £92,498 for a 50% share. (full market value £184,995).
For an affordable first home in Preston, there’s The Avenues. A two-bedroom house called the ‘Downham’ comes with a kitchen/dining room, separate living room, a downstairs WC and under-stairs cupboard and a family bathroom. Both bedrooms are doubles and come with built-in storage. This costs £105,000 based on 50% share (full market value £210,000).
Alstron Grange
At Alstron Grange in Longridge, there’s a three-bedroom house that would make a perfect first home for a young family. Called the ‘Holmewood’, this is a semi-detached property type which has a kitchen/diner at the front and a lounge at the rear, with French doors to the garden. Downstairs is completed by a WC and some useful storage under the stairs. There’s more storage off the landing upstairs, as well as the family bathroom and three-bedrooms. Two of these are doubles (one with an en suite) and the other a single room that could have a number of functions. This home is priced at £108,498 for a 50% share (based on a full market prices of £216,995)
Also in Longridge is Tootle Green. The three-bedroom ‘Gosford’ can be purchased through Home Reach. This semi-detached home has a light-filled double-aspect living room to the front, with a kitchen/dining room at the rear coming with French doors to the garden. There’s a WC on this floor, and a sizeable storage cupboard under the stairs. Bedroom one is a double which has an en suite shower room, bedroom two is a double and bedroom three is a single bedroom. A family bathroom completes this home. A 50% share of this house is £112,498 (full market value £224,995).
Highgrove Park
If you’re looking for an apartment at an affordable price, Home Reach can be found at Highgrove Park in Ormskirk. Prices start at £74,975 (based on 50% share of a full market value of £149,950) for the ‘Lathom’, with open-plan kitchen/living/dining room, generous double bedroom, a bathroom and some very useful storage off the hallway. For a two-bedroom option, there’s the ‘Rufford’. Both bedrooms are doubles, with the bonus of an en uite to bedroom one, there’s a family bathroom and the hub of the home is a spacious, double-aspect kitchen/living/dining room. The price is £83,975 for a 50% share (full market value £167,950). Both properties come with an allocated parking space.
Moor Farm is in Haskayne and there are a couple of contemporary-design three-bedroom detached homes offered through Home Reach here. Top-of-the-range is the ‘Lymewood’, with a price tag of £139,913, based on 50% share (full market value £279,825). The kitchen/dining room is at the front and the lounge at the rear, with French doors to the garden. There’s a downstairs cloakroom and under-stairs storage. Bedroom one is a very generous double room, bedroom two is also a double, and bedroom three a single (or perfect home office). A family bathroom completes this house.
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