Bovis Homes - home reach scheme in Nantwich

Cheshire home hunters struggling to get on to the property ladder are being offered a new scheme to buy a house in Nantwich.

Bovis Homes has teamed up with residential property provider heylo to run Home Reach at its Malbank Waters site off Queens Drive.

The Home Reach scheme offers a part-buy-part-rent option on some properties on the development.

Lynton Dudgeon, of Bovis Homes, said: “Home Reach provides an affordable way to get on the housing ladder – offering the security of home ownership with the flexibility to sell and move at any time.

“You decide how much of your home you would like to buy, with shares between 50% and 75%, and typically you will need to allow for at least a 5% deposit of the cost of your share.

“On the share you don’t own, you will pay rent of 2.75% and you can increase your level of ownership at any time.

“And as the part-owner, you have the freedom to personalise and improve the property and benefit from any increase in value.”

House hunters buying a home for £250,000 could buy a 50% share of £125,000, including a deposit of £12,500 (10%) and a mortgage of £112,500.

With a 25-year repayment mortgage on a 3.5% interest rate, monthly payments would be around £570.

Rental payments on the half of the home heylo owns would be £286, leaving a combined monthly outlay of around £856.

The scheme is open to people in Cheshire looking to buy their principle and only home and if their household income does not exceed £80,000 per annum.

It is available for first-time buyers and former home owners who cannot afford to buy outright.

It’s also open to buyers who currently occupy a shared ownership property and are looking to move.

“For many people, this will be the home buying solution they have waited for and the perfect opportunity to get on the Cheshire property ladder,” added Lynton.

“We’re delighted to be working with heylo and look forward to making hundreds more home-buying dreams come true.”

All buyers will need to pass a financial assessment, demonstrate they are financially able to purchase the chosen share value and support monthly costs.

For more information go to

Bovis Homes and Home reach scheme in Nantwich

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