Home Reach is a part buy-part rent scheme designed to make home buying more accessible, meaning those who previously couldn't afford to buy a new home, now may be able to. When you buy your new Crest Nicholson home with Home Reach, you purchase a share of your new home and pay a low monthly rent on the share you don't buy.
Part buy-part rent is a way to purchase a share in a property. You can pay for your share in cash savings, or by taking out a mortgage. If you are taking out a mortgage, you will need to allow for a minimum of 5% deposit.
You'll be able to live in your home as if you've bought it outright, with our partners, heylo housing acting as your landlord granting you a 125-year lease. As time goes on you can increase the share you own, up to 100% home ownership.
Example based on a £230,000 home*
*Illustrated costs only
Reece and Lucy discuss their experience of purchasing their first home together with the Home Reach scheme, at Potter's Grange in Leicestershire.
You could buy a Crest Nicholson part buy-part rent home if;
Launched in September 2014, heylo works in partnership with housebuilders across England to offer Home Reach, a part buy-part rent option on new build properties.
There’s no catch, it’s not magic, heylo is simply about helping buyers get on, climb up and stay on the property ladder.
For more information on heylo, visit www.heylohousing.com.*Part buy-part rent based on a 50% share. All figures based on a £230,000 home. Estimated monthly cost is an illustrated figure only, please speak to an Independent Financial Advisor for exact costings. Additional costs such as building insurance, monthly management fee and estate charge are not included in the monthly rent figure or in the estimated monthly cost. Rent is charged at 2.75% of the unsold share value. This increases annually with RPI + 0.5%. Starting shares vary across sites and plots. For more information visit your local Home Reach development. **Assuming rental yield 4.5% per annum.
If you would like to be kept informed of special offers and site launches or are interested in bulk property purchases, please register your interest.
Download the Guide to Home Reach for buyers to find out more information on how you can buy part-buy, part-rent with Crest Nicholson.