Home Reach: the key to home ownership

Home Reach Shared Ownership offers those who maybe excluded from buying a home an alternative route to getting onto the property ladder.

With Home Reach you buy a share of your chosen new build home and pay a monthly rent on the part you don’t buy.

You can initially buy up to 75% of your chosen home and Home Reach’s parent company, Heylo Housing, will become your landlord, granting you a lease.

You are welcome to keep pets and can make home improvements as you wish. You are normally able to buy more shares in your home over time (a process known as staircasing), until you own 100% of the home.

Shared Ownership is a fantastic way to get a foot onto the property ladder but it is different to outright ownership. Please speak to one of our Sales Advisers to confirm it’s suitable for you.

• An affordable way to get onto the property ladder
• Buy with a 5% deposit of the initial share you are purchasing
• Provides greater security than renting
• Freedom to decorate or keep pets
• Ability to increase the level of ownership over time
• You can sell and move – even if you haven’t staircased to full ownership

You are eligible to purchase a home via the Home Reach Shared Ownership scheme if:

• Your household income does not exceed £80,000 per annum (£90,000 per annum in London)
• You have a deposit (at least 5% of the initial share you are purchasing)
• You are a first-time buyer or used to own a home, but cannot afford to buy 100% of the property now
• You currently occupy a Shared Ownership property and are looking to move
• You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs
• You meet the relevant requirements in regards to your credit history
• The property will be your principal and only home at the time of purchase