Buy a new home with 5% deposit
This scheme allows you to own 100% of your home and only pay 80% of the price upfront. You provide the 5% deposit and the government will lend you up to 20% as an equity loan. You can then apply for a mortgage based on the remaining 75% of the house price.
The equity loan is interest-free for five years and the scheme is available on new build homes up to the value of £600,000.
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Buy a 50 - 60% share of your new home
with Home Reach
With the Home Reach shared ownership scheme, you buy 50- 60% share of your new home now, and pay a small monthly rental fee on the remaining percentage of your home until you are ready to own the full 100%.
You can purchase your share with cash or by taking out a mortgage, with as little as 5% deposit. You will pay rent of 2.75% of the value of the unowned share, which will be paid monthly by direct debit to Heylo.
You are eligible to purchase a Strata home using Home Reach if:
● Your household income does not exceed £80,000 per annum
● You have saved a deposit (at least 5% of the share value)
● You are a first-time buyer / previously owned a home, but cannot afford to buy outright at the moment
● The shared ownership home will be your only home
● You have passed an Affordability Check
● You have registered with a Help to Buy Agent (ask our team for more details)
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We will buy your home
Our Part Exchange option means we could buy your home for 100% of its market value, leaving you free to buy one of ours.
This means there will be no estate agent fees to pay and no chain, helping you move into your new home sooner than expected.
With Part Exchange, you will have an offer for your home within five days. We can give you a guaranteed price for your existing property so you can get moving.
For more information and to find out if the Part Exchange option is right for you, please contact a Customer Experience Manager.
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