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 plots and developments only.
With Shared Ownership~, you buy a share of your Gleeson home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, making home ownership more accessible.
Shared Ownership is a practical mix of renting and buying; all designed to get you moving faster. Our Shared Ownership offering makes the house buying process affordable and accessible for everyone, whether you are a first-time buyer or have owned a home before.
How does it work?
Depending on which Shared Ownership scheme you use, you can purchase your share in either cash savings or by taking out a mortgage. For the remaining share, you will pay rent to a landlord, who will grant you a long-term lease. This means you will be able to live in the home as if you’ve bought it outright, enjoying all the amazing benefits of homeownership.
Availability
Shared Ownership is currently available on the following developments:
Birkwood, Mareham le Fen, PE22
Bracken Park, Louth, LN11
Crown Gardens, Mansfield, NG19
Grangemoor Park, Northumberland, NE61
Greenfield Park, Bishop Auckland, DL14
Firbeck Fields, Langold, S81
Tulip Fields, Holbeach, PE12
St Andrew's Heights, Skegby, NG17
Read on to learn about our available Shared Ownership schemes!
A brand new buying scheme is now available at selected developments with Heylo Home Reach Flex!
A shared ownership scheme with a difference!
With Heylo’s brand-new ‘Home Reach Flex’ scheme 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 (subject to the restrictions set out below)
- You must have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.
- 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 10% deposit of the share being purchased.
- To start with, you can purchase from 50% to 65% of your chosen home with Home Reach Flex, and Heylo will become your landlord granting you a lease of the unacquired share of the property. This means you will be able to live in the home as if you’ve bought it outright. See here for more information about how the scheme works
- On the share you do not purchase, you will pay rent of 3.25% with Home Reach Flex, 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.
- The property will be your principal and only home at the time of purchasing.
- You are able to accommodate pets and decorate your home as you wish, the same as if you owned the property in full
If you choose to sell your home before you have staircased to full ownership, you are able to do that and need only supply Heylo with a RICS valuation of the home. Once approved by Heylo, you are free to sell your home on the open market. - Starting shares vary across developments. Check with your Sales Executive for more information.
Available with Heylo Home Reach Flex on selected developments and selected plots only and is subject to eligibility criteria (see here for more details). You must purchase a minimum share of 50% and not more than 65% of your chosen property to qualify and you must have a cash deposit equivalent to 10% of the share being purchased. Speak to your Sales Executive for more information on schemes available at your chosen development. Not restricted to first-time buyers.
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
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.