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New Homes To Part Buy-Part Rent In Shropshire

Posted 29 November 2022 by Keith Osborne

Some developments in Shropshire currently offer an affordable option thanks to the Home Reach ‘part buy-part rent’ scheme...

House-hunters in the Shropshire area who aspire to homeownership but may be unable to raise the funds to buy outright can find several chances to ‘part buy-part rent’ brand new properties at a number of developments thanks to the Home Reach scheme.

For buyers who meet the eligibility criteria, Home Reach is an opportunity to purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with housing provider heylo as the landlord. The scheme is offered on selected plots at developments across England 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%.

There are a few options with Home Reach at developments in Shropshire right now.

Set within the village of Doseley, south of Telford, Castle Gardens offers a selection of homes of different sizes. The site is surrounded by green open space but there are great connections to major towns and cities too, being around a seven-minute drive of the M54. There are well-regarded schools and opportunities for leisure activities close to home – it’s well under two miles to parks and a golf course. Here, the ‘Roseberry’ is priced at £130,000 for a 50% share (full market price £260,000) and it has kitchen/dining room, lounge, cloakroom, bathroom and two double bedrooms, one with two built-in storage cupboards. For a higher budget, the ‘Ellerton’ (£145,000 for a 50% share, full market price £290,000) has a not dissimilar layout but the bonus of a third, single bedroom and an en suite to bedroom one.

Fletchers Rise in Wombourne benefits from serene surroundings and large, open meadows which promote the local wildlife; including the addition of ‘hedgehog highways’ on some homes. With plenty of local shops and services, proximity to the likes of Wolverhampton and Dudley put a host of other useful things within easy reach. For single-floor living, the ‘Elm’ is a very nice bungalow with one double and one single bedroom (maybe useful as a home office), a sitting room and a kitchen with dining area. A bathroom and useful storage cupboard off the hallway complete the layout. It is priced at £187,500, based on 50% share and full market price of £375,000.

Find out more about current developments offering Home Reach in the West Midlands region.

 

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Featured Developments
Telford, Shropshire TF4
Price on application
Castle Gardens
Telford, Shropshire TF4 
3 bedroom properties
Home Reach
Wombourne, Shropshire WV5
Price on application
Fletchers Rise
Wombourne, Shropshire WV5 
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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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