Home Reach

New Shared Ownership Properties with Home Reach

Home Reach from Bovis Homes and Heylo is a shared ownership scheme on selected homes.

What is Home Reach?

Buyers of new build homes are eligible for the Home Reach shared ownership scheme, where you buy a share of your chosen home and pay rent on the remaining part. You could buy a bigger share of a lower-priced home or a smaller share of a more expensive one.

The Bovis Homes partnership means you can start by purchasing up to 75% of your chosen home. Heylo will grant you a lease and become your landlord. You'll be able to live in your home as if you have purchased it fully. You can buy more of your new build home in the future and stop paying rent on the unpurchased part.

Only selected homes at certain new housing developments are eligible for Home Reach. If you want to find out more about our Heylo houses for sale, contact one of our Sales Consultants.

Who are Heylo?

Heylo launched in September 2014 and created Home Reach, one of the largest homeownership programmes in the UK. It offers a variety of routes designed to make homeownership more accessible.

Bovis Homes is working in partnership with Heylo to offer Home Reach, a shared ownership scheme available on selected properties across the country.

Home Reach: Helping you get on, climb up and stay on the property ladder.

It's easier to buy your dream home with Home Reach thanks to lower monthly payments and smaller deposit requirements.

Choose the home you'd like to buy and a share of between 50% and 75%. However, there are a small number of developments where you can buy a lower percentage.

You can use cash savings or take out a mortgage to purchase your share. Taking out a mortgage generally means you'll need to allow for a deposit of at least 5%. If you put down a larger deposit, your mortgage payments will be lower.

You'll pay an annual rent of 2.75% of the unsold value of the share you don't own via a monthly direct debit.

For example...

Property Value	£200,000	£250,000	£300,000	£350,000
50% Share Value	£100,000	£125,000	£150,000	175,000
10% Deposit	£10,000	£12,500	£15,000	£17,000
Mortgage(4.75% interest rate)	£90,000	£112,500	£135,000	£157,500
Monthly Mortgage Payments	£440	£550	£660	£770
Monthly Rent	£229	£286	£344	£401
Monthly Combined Cost	£669	£836	£1,004	£1,171
Indicative Income Requirement	£29,000	£34,500	£39,500	£45,000

These examples are based on the following assumptions:

That 100% of the income is for mortgage purposes
The 4.75% interest rate quoted is based on a 5-year fixed rate
The mortgage term is 35-years with no outstanding debts and no financial dependents.
Rent is calculated at 2.75% of the value of the unsold share and it increases every year by either RPI plus 0.5% or CPI plus 1.0% - check with the sales advisor to confirm the mechanism used for increasing the rent on the home you are wanting to buy.

These variables can impact the maximum loan available and may mean a higher income or larger deposit.

Your home may be repossessed if you do not keep up the repayments on your mortgage and / or your rent. All figures quoted are for example purposes only and may not always be available.

Who is eligible for Home Reach?

Find out whether you're eligible to buy one of our new build houses or apartments for sale under Heylo shared ownership. To qualify for the scheme, you must:

Have a household income of £80,000 per annum or less (£90,000 in London).
Be able to put down a deposit of at least 5% of your share value.
Be unable to buy outright if you've previously owned a home, or be a first-time buyer.
Intend to make the shared ownership property your principal home.
Demonstrating you can purchase the minimum share value, support the monthly costs, and pass a financial assessment.

Shared ownership properties are not covered under the Consumer Code or New Homes Quality Code (NHQC).

More ways we can help you move

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Moving house is stressful enough already, so we aim to alleviate some of that stress. With Home Exchange you can have peace of mind knowing that we are your guaranteed buyer.

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Smooth Move is our scheme for all existing property owners to save time and money. We deal with the estate agents to sell your home and even pay the estate agents’ fees!

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Introduce a Friend

Know someone who’d love a new Bovis Home? Introduce a friend and we’ll give you £500* when they buy from us.

How does it work

Deposit Unlock

With Deposit Unlock you could purchase a new Bovis Home up to the value of £750,000 with just a 5% deposit!

How does it work

Home Exchange

Moving house is stressful enough already, so we aim to alleviate some of that stress. With Home Exchange you can have peace of mind knowing that we are your guaranteed buyer.

How does it work

Smooth Move

Smooth Move is our scheme for all existing property owners to save time and money. We deal with the estate agents to sell your home and even pay the estate agents’ fees!

How does it work

Introduce a Friend

Know someone who’d love a new Bovis Home? Introduce a friend and we’ll give you £500* when they buy from us.

How does it work

Home Reach is available on our selected new build homes only, subject to contract and eligibility criteria. Home Reach is a new build shared ownership solution brought to you by heylo housing group. The Home Reach scheme cannot be used in conjunction with any other purchase scheme, offer or promotion from us. Subject to affordability criteria as prescribed by Homes England. Subject to individual mortgage lender qualification and affordability criteria. To take advantage of this offer you must claim before reserving a new home from us and before any other discount is applied. Offer may be withdrawn at any time prior to reservation. We may also require evidence of your financial ability to proceed with the purchase of a new home from us. Shares of up to 75% of the new home are available. Prices advertised can represent up to a 75% share of the new home. More information on eligibility and affordability of using Home Reach to purchase your new home can be found at www.homereach.org.uk and Home Reach is also subject to the terms and conditions of heylo housing group. This offer is not to be used in conjunction with any other offer, discount, promotion or scheme. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Subject to individual lender terms and conditions. Our usual reservation and sales terms and conditions also apply. Please speak to one of our sales consultants for more details.

Home Reach

New Shared Ownership Properties with Home Reach

What is Home Reach?

Who are Heylo?

Home Reach: Helping you get on, climb up and stay on the property ladder.

Who is eligible for Home Reach?

Start your search today

More ways we can help you move

Deposit Unlock

Home Exchange

Smooth Move

Introduce a Friend

Deposit Unlock

Home Exchange

Smooth Move

Introduce a Friend

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