Posted 27 October 2021 by
Keith OsborneFor house-hunters in the Midlands regions searching for a first home to move into by this Christmas, there are a few opportunities to do so at developments across the county which offer propreties for sale through the Home Reach scheme.
Home Reach is a partnership between housing provider heylo and a number of housebuilders across England which 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 some examples of homes in the West Midlands region ready to move into by Christmas through Home Reach.
Berrington Place is within walking distance of Birmingham city centre and could offer a perfect first home with a range of one-bedroom apartments. The ‘Type N’ has an open-plan kitchen/dining/living space and double bedroom and has a specification including a Symphony fitted kitchen with a range of integrated appliances, flooring included throughout and contemporary white sanitaryware to the bathroom. A 50% shares of this home is £94,250 (based on a full market value of £188,500) and would require a minimum of 5% deposit from £4,713.
Cliveland House
Cliveland House is a 52-unit apartment block located on a quiet stretch of canal within Birmingham’s historic Gun Quarter, just a 10-minute walk from Snow Hill station. This also currently offers some one-bedroom homes through Home Reach. One example benefits from an open-plan fitted kitchen/diner/living area, double bedroom, bathroom and built-in storage. It is priced at £110,000 for a 50% share (full market value £220,000) and requires a minimum 5% deposit of £5,500.
Fletcher's Rise is in Wombourne, around five miles from the centre of Wolverhampton, and is currently offering two- and three-bedroom homes on a ‘part buy-part rent’ basis. One is a bungalow called the ‘Ebony’ which has a kitchen/dining area with French doors to the garden, a separate sitting room, two double bedrooms, a single bedroom, a family bathroom and large storage cupboard off the hallway. It can be purchased with a share as little as 40% at £164,000 (full market value £410,000) and if reserved before the end of October 2021 comes with an offer of flooring included and £1,500 towards your legal fees (terms and conditions apply).
Manor House at Bournville Park is the final phase of the Bournville Park development and is a collection of luxury one- and two-bedroom apartments set in by mature grassland. A two-bedroom apartment benefits from an open-plan kitchen/diner/living area, a master bedroom with en suite, a second double bedroom, a bathroom and built-in storage. With Home Reach, a 35% share is priced from £93,100 (full market value from £266,000), requiring a minimum 5% deposit from £4,655.
Woodlands Park
Located in Solihull, Woodlands Park is another apartment development currently offering one-bedroom homes. Located in the Lotus House block, a single bedroom home comes with double-aspect open-plan kitchen/living/dining area (which opens up onto a patio area in selected apartments), a bathroom and hallway storage. It is priced at £94,500 for a 50% share (based on a full market value from £189,000), where the buyer will need a minimum of 5% deposit from £4,725.
The Steadings is in the village of Essington with woodlands and lakes on its doorstep. Here, the ‘Cypress’ is a great choice for families. Downstairs, this detached home has a living room at the front, the kitchen/dining room at the back, with utility room and French doors to the garden, and a cloakroom. Upstairs are two double bedrooms, a single bedroom and a family bathroom. Bedroom one comes with an en suite shower room. This house costs from £177,998 for a 50% share (full market value from £355,995), which would need a minimum of 5% deposit from £8,900.
Here are some examples of homes in the East Midlands region ready to move into by Christmas through Home Reach.
‘Winthorpe’ house type
Pinchbeck Fields is just two miles from Spalding and will be bringing some 19 different property types to suit a whole variety of buyers and budgets. With Home Reach, the three-bedroom ‘Winthorpe’ could be the right choice. It has a kitchen/diner, separate living area and downstairs cloakroom, master bedroom with an en suite and built-in wardrobes, a two more bedrooms, built-in storage and the family bathroom. It also comes with allocated parking for two cars. A 50% share is priced from £109,998 (based on a full market value from £219,995) and requires a minimum of 5% deposit from £5,500.
In Kirton, north Lincolnshire, off the A16 south of Boston, is Tudor Reach. This is offering the opportunity to ‘part buy-part rent’ a three-bedroom house. One example is the ‘Bennington’ terraced house which has an open-plan living/dining area, separate kitchen, utility area and downstairs cloakroom. Upstairs are the three bedrooms (with an en suite and fitted wardrobes to bedroom one) and the family bathroom. A 50% share of this house is priced from £86,750 (based on a full market Value from £173,500) and would require a minimum of 5% deposit from £4,338.
Find out more about current Home Reach developments in the West Midlands region.
Find out more about current Home Reach developments in the East Midlands region.