Persimmon Homes is working in partnership with heylo to offer Home Reach, a part-buy-part-rent option, only available on new-build properties.
Only available on selected Persimmon developments (please see list to the right), Home Reach is a scheme where you buy a share of your chosen home and pay a low monthly rent on the part you don't buy. You get to choose whether you buy a bigger share of a cheaper home or a smaller share of a more expensive home.
You can initially purchase up to 75%* of your chosen home and heylo will become your landlord, granting you a 125-year lease. This means you will be able to live in your home as if you've bought it outright. You can buy more of your home in the future and stop paying rent on that part.
* Starting shares vary across sites, please visit the sales office on site.
You’re eligible to buy a Home Reach property in England or Wales if:
Smaller deposit requirements and lower monthly payments make it easier to buy the home you've always wanted.
You decide how much of your home you’d like to buy, with shares up to 75%, starting shares vary across developments; please see the sites sales office for more information on their starting share options. You’re able to buy your share with either cash savings or by taking out a mortgage.
If you’re taking out a mortgage to finance your share, then you will need to allow for at least a 5% deposit. The larger your deposit, the lower your mortgage payments will be. On the share you don’t own, you will pay rent of 2.75% of the unsold value. This will be paid monthly by direct debit.
*Figures above are based on a 25 year repayment mortgage and a Home Reach lease with an initial rent of 2.75% on the unpurchased property value increasing by RPI + 0.5% each year. Your home may be repossessed if you do not keep up with payments on your mortgage or shared ownership lease. Additional service charges may be payable on properties with communal facilities or services. You will also need to consider the responsibilities and associated costs involved with owning a home (such as insurance and maintenance).
The lease sets out:
You’re responsible for all utilities bills, repairs and redecoration of your property. It’s your place and your space to make your own!
The only exception would be if you wanted to make any structural changes. For this you would need to apply in writing to heylo outlining the changes you would like to make. heylo will review the application to ensure the works are being planned and undertaken properly.
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Images shown are for illustrative purposes only. Elevations and treatments may vary.
The prices shown are correct at the time of being published but are subject to change without prior notice, please contact our Marketing Suite for accurate price information.
Site layouts are intended for illustrative purposes only, and may be subject to change, for example, in response to market demand, ground conditions or technical and planning reasons. Trees, planting and public open space shown are indicative, actual numbers and positions may vary. Site plans does not form any part of a warranty or contract. Further information is available from a site sales advisor.
The dimensions shown are approximate and the precise measurements may vary.
For full details on the HM Government-backed Help to Buy: Equity Loan scheme please visit www.helptobuy.gov.uk.
Every effort has been taken to ensure the information provided here is accurate however, particulars regarding local amenities and their distances are for general guidance only. Where schools and other educational facilities are mentioned they are intended to highlight their distance from the development and don’t represent a guarantee of admission or eligibility. Travel times and distances assume journeys are made by car. Times are likely to vary according to travel conditions and time of day.
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