Shared Ownership
With Shared Ownership, you buy a share of your chosen home and pay a low monthly rent on the part you don’t buy. Available on selected developments only.
Find out more about our available schemes below.
A brand new buying scheme is now available at selected developments with Heylo Home Reach Flex!
Availability
Birkwood, Mareham le Fen, PE22
Bracken Park, Louth, LN11
Crown Gardens, Mansfield, NG19
Firbeck Fields, Langold, S81
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Tulip Fields, Holbeach, PE12
St Andrew's Heights, Skegby, NG17
Terms & Conditions
Home Reach is about making homeownership possible.
- With Home Reach you buy a share of your chosen newly built home and pay monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home
- You are able to purchase your share in either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will need to allow for a minimum of 5% deposit. The larger your deposit (typically 10%) the lower your mortgage repayments are likely to be
- To start with, you can purchase from 50% to 75% of your chosen home and Heylo will become your landlord granting you a lease. This means you will be able to live in the home as if you’ve bought it outright. 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 and backed by significant pension fund investment it plans to deliver a unique suite of housing solutions and drive significant shared ownership affordable housing across the UK
- On the share you do not purchase, you will pay rent of 2.75% of the unsold value, this will be paid monthly via direct debit. You can purchase more shares in the future until you own the whole property and stop paying rent altogether
- Starting shares, vary across developments. For more information on the shares available, the sales representatives at the development you would like to buy at will be able to guide you
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Start your new home journey with Your Resi Home
- Your ReSI Shared Ownership is a private scheme.
- Under the Shared Ownership model, you can buy between 25% and 75% of your home depending on what you can afford.
- You will pay a mortgage on the share that you own and a reduced rent to Your ReSI Home on the remaining share owned by Your ReSI Home, this is worked out at 2.75% of the unsold share.
- Depending on which mortgage lender you use, your deposit can be as little as 5% of your share value.
- Not all customers will require a mortgage, some customers may be able to purchase their share with savings and no mortgage.
- First-time buyers, existing shared owners and former owners buying again who cannot afford to buy a home on the open market may be eligible to buy a Your ReSI Home.