heylo launches Home Reach in Lancashire - a part-buy part-rent option on new-build properties.

PUBLISHED: 14:50 14 August 2018 | UPDATED: 09:11 17 August 2018

Barratt Homes, The Spinnings

Barratt Homes, The Spinnings

Archant

Home Reach has helped many people realise their dreams and own the home they want and need.

The property ladder is a thing of distant dreams for many people in this day and age.

Launched in 2014, heylo has created a home ownership programme which offers prospective buyers another way to step onto that ladder and own the home they have been dreaming of.

Working in partnership with house builders across the UK, heylo has launched Home Reach - a part-buy part-rent option on new-build properties.

There is no catch or magic involved, Home Reach is simply that, a way to help buyers reach the home they dream of.

The aim of Home Reach is to make home ownership accessible to everyone.

So, how does it work? Home Reach enables the purchaser to buy a share of their chosen home and they then pay a low monthly rent on the part they don’t buy. Buyers get to choose whether they buy a bigger share of a cheaper home or a smaller share of a more expensive home.

Initially, buyers can purchase between 50 – 75% of their chosen home and heylo will become their landlord, granting them a 125-year lease. This means buyers will be able to live in their home as if they’ve bought it outright. They also get the option of buying more of their home in the future and stop paying rent on that part.

There are no catches but there are a small eligibility criteria.

The criteria for eligibility include the buyer’s household income which cannot exceed £80,000 per annum for homes outside of London and they need to have a deposit - at least five per cent of the share value.

Prospective buyers are also eligible if they are a first-time buyer or someone who used to own a home, but cannot afford to buy outright now; the property must be their principle and only home; they have passed a financial assessment, demonstrating they are financially able to purchase the share value and support the monthly costs.

Home Reach has helped many people realise their dreams and own the home they want and need. And with house prices truly out of reach for many, it is becoming increasingly difficult to get to that place on the ladder which is necessary for the needs of modern life.

Why buy 100 per cent of a two-bedroom house when you can buy 50 per cent of a four bedroom property?

For a full listing of Home Reach sites available, please visit – homereach.org.uk/north-west

HOME REACH AVAILABLE AT THE FOLLOWING SITES:

Brindley Gardens in Rochdale, OL16 4AQ

3-bedroom homes available, 50% shares from £92,498

homereach.org.uk/brindley-gardens-rochdale

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Claremont Gardens, Liverpool L4 1AJ

1-bedroom apartments available, 50% shares from £39,998

homereach.org.uk/claremont-gardens-liverpool

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Cottam Meadow, Cottam PR4 0NX

4-bedroom homes available, 50% shares from £103,498

homereach.org.uk/cottam-meadow-cottam

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Cromwell Heights, Longridge PR3 2AB

5-bedroom homes available, 50% shares from £184,997

homereach.org.uk/cromwell-heights-longridge

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Fender Mews, Upton CH46 0QT

3 & 4-bedroom homes available, 50% shares from £97,497

homereach.org.uk/fender-mews-wirral

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Hawley Gardens, Thornton-Cleveleys FY5 4GP

4-bedroom homes available, 50% shares from £151,497

homereach.org.uk/hawley-gardens-thornton-cleveleys

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Highgate Park, Warton PR4 1XD

3 & 4-bedroom homes available, 50% shares from £90,997

homereach.org.uk/highgate-park-warton

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Lightfoot Meadows, Preston PR4 0AH

homereach.org.uk/lightfoot-meadows-preston

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Low Hill Gardens, Upton CH46 0QT

3 & 4-bedroom homes available, 50% shares from £100,997

homereach.org.uk/low-hill-gardens-wirral

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Monk’s Cross, Clitheroe BB7 9RX

2, 3 & 4-bedroom homes available, 50% shares from £87,497

homereach.org.uk/monks-cross-whalley

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Pavilion Gardens, Southport, PR8 6PN

3-bedroom homes available, 50% shares from £96,995

homereach.org.uk/pavilion-gardens-southport

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Quernmore Park, Lancaster LA1 3JT

4-bedroom homes available, 50% shares from £114,497

homereach.org.uk/quernmore-park-lancaster

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Riverside View, Lancaster LA1 5QW

3-bedroom homes available, 50% shares from £93,497

homereach.org.uk/riverside-view-lancaster

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The Links, Garstang PR3 1PB

3 & 4-bedroom homes available, 50% shares from £139,997

homereach.org.uk/the-links-garstang

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The Spinnings, Kirkham PR4 2RE

3 & 4-bedroom homes available, 50% shares from £104,997

homereach.org.uk/the-spinnings-kirkham

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