Part-buy, Part-rent

What is Home Reach?

Home Reach allows buyers of new homes to purchase a share of their chosen home and pay a low monthly rent on the part that isn't purchased.

HOW IT WORKS

What is Home Reach?

With our Part-buy, Part-rent 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 house and Heylo will become your landlord, granting you a 125-year lease. This means you will be able to live in your home as if you've bought it outright. You can buy more of your home in the future and stop paying rent on that part. Home Reach is only available on selected homes at certain developments. Please contact on of our sales consultants to find out more.

Who is heylo?

Launched in September 2014, heylo has created one of the largest homeownership programmes in the UK. Offering buyers several different Part-buy, Part-rent 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 shared ownership houses.

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 Part-buy, Part-rent 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 with either 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	£150,000	£200,000	£250,000	£300,000	£350,000
50% Share Value	£75,000	£100,000	£125,000	£150,000	175,000
10% Deposit	£7,500	£10,000	£12,500	£15,000	£17,000
Mortgage(3.5% interest rate)	£67,500	£90,000	£112,500	£135,000	£157,000
Monthly Mortgage Payments	£341	£455	£569	£676	£789
Monthly Rent	£172	£229	£286	£344	£402
Monthly Combined Cost	£513	£684	£855	£1020	£1190
Indicative Income Requirement	£20,000	£26,000	£33,000	£37,413	£43,536

Source: heylo housing Jan 2018
Figures above are based on a 25 year repayment mortgage and a Home Reach lease with an initial rent of 2.75% on the unpurchased property value increasing by RPI + 0.5% each year. Your home may be repossessed if you do not keep up with payments on your mortgage or shared ownership lease. Additional service charges may be payable on properties with communal facilities or services. You will also need to consider the responsibilities and associated costs involved with owning a home (such as insurance and maintenance).

Who is eligible for Home Reach?

You are eligible to purchase a Home Reach 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

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Exclusively for first-time buyers! Your move could be more affordable than you think - buy a new home between £186,100 and £437,600, depending where you live, 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 a new build ownership solution brought to you by heylo housing group. The Home Reach Part-buy, Part-rent scheme cannot be used in conjunction with any other Linden Homes purchase scheme, offer or promotion. Subject to affordability criteria as prescribed by the Homes and Communities Agency. Subject to individual mortgage lender qualification and affordability criteria. Shares of up to 75% of the home are available. Prices advertised can represent up to a 75% share of the home. More information on eligibility and affordability of using Home Reach to purchase your home can be found at www.homereach.org.uk

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Part-buy, Part-rent

What is Home Reach?

What is Home Reach?

Who is heylo?

Home Reach... A more affordable way to buy

Who is eligible for Home Reach?

More ways we can help you move

Help to Buy

Home Exchange

Smooth Move

Introduce a Friend

Help to Buy

Home Exchange

Smooth Move

Introduce a Friend

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