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Part Buy-Part Rent Homes Available In Lancashire

Posted 7 July 2021 by Keith Osborne

Home Reach is available on everything from a one-bedroom apartment to a four-bedroom detached house 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 GrangeAlstron 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 ParkHighgrove 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.

Find out more about current Home Reach properties in Lancashire.

 

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Featured Developments
Preston, Lancashire PR3
£107,500 - £122,500 (from 50% share)
The Avenues
Preston, Lancashire PR3 
2 - 3 bedroom properties
Home Reach
Ormskirk, Lancashire L40
£64,998 (from 50% share)
Highgrove Park
Ormskirk, Lancashire L40 
1 bedroom properties
Home Reach
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A Guide To Part Buy Part Rent
With Home Reach you buy a share of your chosen newly built home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home.

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