We’re working with heylo housing to offer Home Reach, which allows you to part-buy-part-rent a new home. Home Reach is available on a selection of our homes around the country. With Home Reach, you decide how much of your home you’d like to buy (with shares up to 75%) then pay rent of 2.75% of the unsold value. So you can stop saving and move sooner than you think.
“Over the years you can actually buy shares until you own it outright”
With Home Reach you get to live in the home of your dreams at a cost you can afford right now. As an example, here’s an illustration based on a 50% share*, but you can obtain up to 75% share.
Find out what Home Reach has meant for one of our customers, who was able to buy her home with lower monthly mortgage payments than she expected.
Frequently asked questions
You’re eligible to purchase a Home Reach property in England or Wales if:
- Your annual household income is less than £80,000 for homes outside of London
- You have a deposit (at least 5% of the share value)
- You’re a first time buyer or used to own a home, but cannot afford to buy outright now
- You currently occupy a shared ownership property and are looking to move
- The shared ownership property will be your principal and only home
- You have passed a financial assessment, demonstrating you’re financially able to purchase the minimum share value and support the monthly costs
The lease sets out:
- A description of the property including its boundaries and a guide to which parts are your responsibility – if a leasehold property, it will also contain any restrictions or obligations flowing from the superior leasehold title, such as the payment of ground rent
- The start date of the lease and the share that you have bought
- The amount of rent that you must pay, together with other amounts due under the lease
- The rent increase, linked to Retail Price Index plus 0.5% each year
- Your responsibilities as a leaseholder, such as all repairs and maintenance of the property and those of heylo as landlord under the lease, such as building insurance arrangements
- The method by which you can purchase additional shares to own more of your home in the future
- The method by which you can move home, either by selling your share or selling the whole property
heylo housing is a residential property company with a long term investment strategy to provide affordable housing across the UK.
In partnership with a leading Local Authority, heylo housing’s team of housing, development and finance professionals has already acquired over 900 shared ownership properties across the UK. Learn more about heylo housing.
*Terms and conditions apply. Please visit taylorwimpey.co.uk/terms for full details.