The Shared Ownership* scheme with Heylo offered by Home Reach is a Part Buy, Part Rent. Its an affordable way to get onto the housing ladder for first time buyers and those who don’t own a home.You can purchase between 50–75% of the home’s market value and pay subsidised rent on the remainder
Currently available on a number of our developments - see below.
How does it work?
You initially purchase between 50–75% of the home’s market value. You then pay subsidised rent. You can buy more of your home in the future and stop paying rent of that part.
Please see below an example of how it works:

Figures above are for illustrated purposes and are based on a 25 year repayment mortgage and a lease with a initial rent of 2.75% on the un-purchased 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 may also need to consider the responsibilities and associated costs involved with owning a home (such as insurance and maintenance). Monthly management fee is paid via direct debit to the provider.
What's included in your Home Reach lease?
The lease sets out:
- A description of the property including its boundaries and a guide to which parts are your responsibility – if a leasehold property, it will also contain any restrictions or obligations flowing from the superior leasehold title, such as the payment of ground rent
- The start date of the lease and the share that you have bought
- The amount of rent that you must pay, together with other amounts due under the lease
- The rent increase, linked to Retail Price Index plus 0.5% each year
- Your responsibilities as a leaseholder, such as all repairs and maintenance of the property and those of heylo as landlord under the lease, such as building insurance arrangements
- The method by which you can purchase additional shares to own more of your home in the future
- The method by which you can move home, either by selling your share or selling the whole property
What are you rights and responsibilities?
You are responsible for all utilities bills, repairs and redecoration of your property. It’s your place, your space – so make it 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 and will be in touch with a decision or requesting more information.
Am I eligible?
- Your household yearly income must be below £80,000 to be eligible for the Shared Ownership scheme.
- You will need a deposit of 5% of the percentage of the home you’re purchasing.
- You are first time buyer or used to won a home, but cannot afford to buy 100% of the property now.
- The property will be your principle and only home
- You have passed a Homes England Affordability calculator, demonstrating you are financially able to purchase the share value and support the monthly costs.
- You are registered with a Help to Buy agent.
What is the process of buying a home using Heylo?
1. Register with your local Help to Buy agent. (you will be able to register for a general area or a specific housing development)
2. Assessment - you will need to complete a financial affordability assessment with a sales executive or an Independent Financial Advisor.
3. Choose the home you wish to purchase. once you know your affordability.
4. Reserve your chosen home by paying a reservation fee to the sales executive.
5. Mortgage -you will now need to apply for a mortgage, the sales executive will guide you to the appropriate specialist.
6. Legals - you will need to appoint a solicitor to carry out he legal work for you to act in your best interest.
7. Exchange - is when you pay your deposit, sign your contracts and agree a moving in date.
8. Move in on the agreed completion date, you will be able to collect your keys, move in and enjoy your new home!
Once you've moved in, a member of the Heylo team will be in contact and a welcome letter will arrive, to outline who your managing agent will be, they will be responsible for collecting your rent and answering any questions you may have about your property and lease as well as guiding you if you decide you would like to staircase or sell.
*Shared Ownership – Terms and conditions apply. This scheme is subject to qualifying criteria and status. Minimum and maximum share values will apply and rent is payable on the unsold share. Only available on selected properties. It is not offered with any other promotion unless by special arrangement by us.