Home Reach: a fantastic homebuying initiative at Spinnaker
Linden Homes and Wates are offering Home Reach on selected properties at their Spinnaker development in Westbury.
Home Reach is a part-buy-part-rent scheme where you buy a share of your chosen home and pay a low monthly rent on the rest heylo will become your landlord, granting you a 125-year lease and you will be able to live in your home as if you’ve bought it outright.
Home Reach can enable people to secure their perfect home when they didn’t think it was possible by taking out a mortgage for a share (up to 75 per cent) of the property and paying a low monthly rent on the other portion; customers can then pay more money into their property at any time.”
Director of Home Reach
For example, at Spinnaker in Westbury where Wates is working in a joint venture partnership with Linden Homes The Ashbee is available with Home Reach from £119,995, with a 50 per cent share. The two bedroom apartment includes an open plan kitchen, dining and living area with a Juliet balcony, a family bathroom, a master bedroom with an en-suite, a second bedroom, garage and parking space. Also available with Home Reach is The Burnet from £182,500, with a 50 per cent share. Set over three storeys, the four bedroom townhouse boasts a large living room, kitchen and dining area, downstairs toilet, a master bedroom with an en-suite, three further bedrooms and a bathroom.
To be eligible for the Home Reach scheme:
- Your household income cannot exceed £80,000
- You must have a deposit of at least five per cent of the share value
- The property must be your only home
- You must pass financial affordability tests
Home Reach works so well for people who need a bit more space for their money, while offering them flexibility and security it’s a brilliant initiative and we’re delighted to be able to offer the scheme in Westbury.
It’s very easy to do the maths yourself and think buying a home is out of reach so please talk to us as there are many initiatives for new builds that are designed to help.”
Sales and marketing director at Linden Homes
Launched in 2014, heylo has created one of the largest home ownership programmes in the UK. For more information, visit www.lindenhomes.co.uk/schemes/home-reach or call Spinnaker on 01373 441310.