Heylo has partnered with Sunningdale House and Hart District Council to provide four new homes through their part-buy, part-rent scheme called Home Reach.
With Home Reach, buyers can initially purchase between 25% and 75% shares in a property, with the ability to increase ownership up to 100% over time. The scheme provides the security of home ownership along with all the benefits of owning a home including the ability to decorate and personalise, and the flexibility of selling and moving at any point after completion. Buyers will also benefit from the Stamp Duty exemption up to 31 March 2021 for properties up to the value of £500,000, with First Time Buyers also seeing an extended reduction in stamp duty after this time.
Home Reach is available on four 2-bedroom apartments at Sunningdale House’s Winchfield View development. Wayne Bennett, Director of Home Reach said, “We are delighted to be able to offer Home Reach with Sunningdale House, as this scheme can help local buyers get a foot onto the property ladder and secure their home by buying the share they can afford and paying a monthly rent on the remaining share.”
These stunning 2-bedroom apartments at Winchfield View, come complete with integrated appliances, built-in wardrobes and parking, are available from £93,750 for a 25% share.
David Pownceby, CEO of Sunningdale House Developments, said “We are delighted to be working with Home Reach to assist buyers in achieving their goal of home ownership, particularly at such a distinctive high-specification development as Winchfield View.”
As the Home Reach scheme requires the purchaser to have a minimum of 5% deposit of their chosen share value, this means those living locally and saving for a deposit can now reserve a property from £4,688 - breaking down the barriers traditionally associated with home ownership.
Cllr Stuart Bailey, Cabinet Member for Community at Hart District Council, said: “Hart’s Housing Team are proud to continue to provide a wide spectrum of affordable housing solutions for the residents of Hart and we are delighted that these new homes at Winchfield View will offer local people the opportunity to purchase a high-quality apartment through this part-buy, part-rent scheme.”
To be eligible for the Home Reach scheme:
- Your household income must not exceed £80,000 per year
- The property must be your only home
- You must be registered and have been approved by your local Help to Buy Agent
- You must have good credit and pass affordability checks
For more information on the apartments and Home Reach scheme, please visit www.homereach.org.uk