Home Reach

Home Reach properties

Home Reach is a shared ownership scheme that allows buyers of new homes to purchase a share of their chosen home and pay a monthly rent on the remaining part.

HOW IT WORKS

What is Home Reach?

With our shared ownership scheme, you get to choose whether you buy a bigger share of a lower-priced home or a smaller share of a more expensive one.

With the Linden Homes partnership, you can initially purchase up to 75% of your chosen new shared ownership home and Heylo will become your landlord, granting you a 999-year lease. This means you will be able to live in your home as if you'd bought it outright. You can buy more of your home in the future and stop paying rent on that part. The Heylo Home Reach scheme is only available on selected homes at certain developments. Please contact one of our sales consultants to find out more.

Who are Heylo?

Launched in September 2014, Heylo has created one of the largest homeownership programmes in the UK. Offering buyers several different shared ownership schemes, Heylo aims to make owning a home possible.

Home Reach is simply about helping you get on, climb up and stay on the property ladder with new Heylo shared ownership homes.

Home Reach... a more affordable way to buy

Smaller deposit requirements and lower monthly payments make it easier to buy the new home you've always wanted.

With Home Reach's shared ownership scheme, you decide how much of your home you would like to buy, with shares up to 75% (on a small number of developments there is the opportunity to purchase a lower percentage).

You can purchase your share of Heylo houses or apartments for sale either with cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will typically need to allow for at least a 5% deposit. The larger your deposit, the lower your mortgage payments will be.

On the share you don't own, you will pay rent of 2.75% of the unsold value. This will be paid monthly by direct debit.

For example...

Property Value	£200,000	£250,000	£300,000	£350,000
50% Share Value	£100,000	£125,000	£150,000	175,000
10% Deposit	£10,000	£12,500	£15,000	£17,000
Mortgage(4.75% interest rate)	£90,000	£112,500	£135,000	£157,500
Monthly Mortgage Payments	£440	£550	£660	£770
Monthly Rent	£229	£286	£344	£401
Monthly Combined Cost	£669	£836	£1,004	£1,171
Indicative Income Requirement	£29,000	£34,500	£39,500	£45,000

These examples are based on the following assumptions:

That 100% of the income is for mortgage purposes
The 4.75% interest rate quoted is based on a 5-year fixed rate
The mortgage term is 35-years with no outstanding debts and no financial dependents.
Rent is calculated at 2.75% of the value of the unsold share and it increases every year by either RPI plus 0.5% or CPI plus 1.0% - check with the sales advisor to confirm the mechanism used for increasing the rent on the home you are wanting to buy.

These variables can impact the maximum loan available and may mean a higher income or larger deposit.

Your home may be repossessed if you do not keep up the repayments on your mortgage and / or your rent. All figures quoted are for example purposes only and may not always be available.

Who is eligible for Home Reach homes?

You are eligible to purchase a Home Reach Heylo property in England or Wales if:

Your household income does not exceed £80,000 per annum (for homes outside of London)
You have a deposit (at least 5% of the share value)
You are a first-time buyer or used to own a home, but cannot afford to buy outright now
The property will be your principal and only home
You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs
Shared ownership properties are not covered under the Consumer Code or NHQC (New Homes Quality Code).

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Introduce a Friend

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How does it work

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Deposit Unlock means that whether you're looking to make your first or next move, a dream Linden Home could be yours with just a 5% deposit.

How does it work

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Stuck in a chain or have a home to sell? We could buy your current home when you buy one of ours with Home Exchange.

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Have a home to sell? We could help sell it for you, so you can buy one of ours with Smooth Move! We could even save you time and money.

How does it work

Introduce a Friend

Introduce your friends to Linden Homes and if they buy from us we’ll give you £500* to say thank you.

How does it work

Home Reach is available on our selected new build homes only, subject to contract and eligibility criteria. Home Reach is a new build shared ownership solution brought to you by heylo housing group. The Home Reach scheme cannot be used in conjunction with any other purchase scheme, offer or promotion from us. Subject to affordability criteria as prescribed by Homes England. Subject to individual mortgage lender qualification and affordability criteria. To take advantage of this offer you must claim before reserving a new home from us and before any other discount is applied. Offer may be withdrawn at any time prior to reservation. We may also require evidence of your financial ability to proceed with the purchase of a new home from us. Shares of up to 75% of the new home are available. Prices advertised can represent up to a 75% share of the new home. More information on eligibility and affordability of using Home Reach to purchase your new home can be found at www.homereach.org.uk and Home Reach is also subject to the terms and conditions of heylo housing group. This offer is not to be used in conjunction with any other offer, discount, promotion or scheme. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Subject to individual lender terms and conditions. Our usual reservation and sales terms and conditions also apply. Please speak to one of our sales consultants for more details.

Home Reach

Home Reach properties

What is Home Reach?

Who are Heylo?

Home Reach... a more affordable way to buy

Who is eligible for Home Reach homes?

Start your search today

More ways we can help you move

Deposit Unlock

Home Exchange

Smooth Move

Introduce a Friend

Deposit Unlock

Home Exchange

Smooth Move

Introduce a Friend

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