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Latest Home Reach Properties In The South West

Posted 2 September 2021 by Keith Osborne

The part buy-part rent scheme is available at developments in and around towns and cities across England’s South West...

The Home Reach initiative, which helps first-time buyers ‘part buy-part rent’ a brand new home, is becoming increasingly popular and is available at a real variety of developments across the South West of England.

Home Reach is a partnership between housing provider heylo and a number of housebuilders. It is open to first-time buyers who meet the eligibility criteria 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. Offered on selected plots at a development, this initiative provides all the benefits of homeownership but requires a much smaller deposit (5% of the share price) and mortgage than purchasing outright. Over time, owners can buy further shares as their budget allows, until they own 100%.

For a city centre starter home, Decourcy House might be a perfect choice. It’s the conversion of a former commercial building, with the addition of a fourth floor, in a very contemporary architectural design. In all, there are 40 one- and two-bedroom apartments. Plot 1 is a one-bedroom property available through Home Reach. It has an open-plan kitchen/dining/living area with fitted units and integral top-brand appliances, a double master bedroom, a bathroom and it comes with a video entry system and secure communal bike store. This can be purchased from £102,475 for a 50% share (full market value £204,950).

ShorelandsShorelands

For something quite different, Shorelands is a development in the popular Cornish coastal town of Bude, located within walking distance of two beautiful sandy beaches as well as the well-served town centre. The ‘Hazel’ is a bright and airy house type with open-plan kitchen/dining room that has French doors to the back garden, a separate sitting room, downstairs WC, three bedrooms upstairs (one with en suite) and a family bathroom. This family home can be purchased from £147,575 for a 50% share (full market value £295,150), which would require a minimum deposit of £7,379.

SpinnakerSpinnaker

A further example of the variety of properties available through Home Reach can be found in Wiltshire at Spinnaker, a development taking shape next to Eden Vale Lake, the home of Westbury Sailing Club, and very conveniently located for Westbury’s railway station and the town centre. For further shops and amenities, Warminster is only four miles away. Essential to families, there’s a choice of Ofsted rated ‘Good’ and ‘Outstanding’ primary and secondary schools nearby. ‘The Burnet’ is a three-storey home which can provide real flexibility. It has a kitchen/diner, separate living room, downstairs WC, two double bedrooms on the first floor (one with en suite) and two more bedrooms and the family bathroom on the top floor. The starting price is £136,000 for a 40% share (full market value from £340,000).

Priory FieldsPriory Fields

Named after the old railway station on the Strawberry Line, Priory Fields is situated on the outskirts of the medieval city of Wells and surrounded by pretty villages and glorious scenery. This development illustrates that buyers can also find a detached home that qualifies for Home Reach, with one example being the ‘Cypress’. This three-bedroom home benefits from an open-plan kitchen/diner with adjoining utility area, separate living area, downstairs cloakroom and built-in storage to the ground floor. Upstairs is complete with the master bedroom with en suite, another double bedroom, a single bedroom and a family bathroom. further second bedroom, a third bedroom with built-in storage, the family bathroom plus extra built-in storage on the landing area. Coming with allocated parking, prices start at £187,500 for a 50% share (full market value from £375,000).

 

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Featured Developments
Westbury, Wiltshire BA13
Price on application
Spinnaker
Westbury, Wiltshire BA13
Contact for more details
Home Reach
Wells, Somerset BA5
£200,000 - £205,816 (from 50% share)
Priory Fields
Wells, Somerset BA5 
3 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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