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Gleeson Homes launches shared ownership scheme

Gleeson Homes, the affordable high-quality housebuilder, is pleased to announce the launch of its new shared ownership scheme in Lincolnshire and Nottinghamshire in partnership with shared ownership provider, Heylo Housing.

Gleeson has launched ‘Home Reach Flex’, a new homebuying scheme developed by Heylo and designed to provide buyers with an alternative route to homeownership, enabling more people to take their first step on to the property ladder.

As part of the scheme, buyers are able to purchase a percentage of their new home, starting at 50%, and then pay monthly rent for the remaining amount. The scheme offers added flexibility and reduces administration costs and expenses associated with the Government-backed Shareholder Ownership scheme and also has lower minimum deposit requirement of 10%.

Gleeson is rolling out the scheme across a number of its developments in Nottinghamshire and Lincolnshire, all of which feature Gleeson’s new product elevations, including the Render and the Stone exteriors. Gleeson looks forward to the scheme being rolled out across additional sites and regions in the coming weeks and months.

The launch of the shared ownership scheme aligns closely with Gleeson Homes’ core purpose of providing affordable and high-quality homes for those who need them most across the UK. The shared ownership scheme is also one of a number of steps the Company has taken to broaden its potential customer pool and proposition, including a recent branding and marketing refresh across Gleeson Homes.

“We are very excited to be launching a shared ownership scheme, which will enable us to appeal to an even wider demographic of potential customers. With the end of the Help to Buy scheme, we saw this as a great opportunity to provide an alternative route to homeownership, enabling more customers to take their first steps on to the property ladder with our affordable high-quality homes. We look forward to launching the scheme across more of our developments and regions.”

Mark Knight, Chief Executive at Gleeson Homes

“We’re thrilled to have launched a number of Home Reach Flex offerings in Nottinghamshire and Lincolnshire with Gleeson Homes, widening the accessibility of our brand-new solution for affordable home ownership. An excellent opportunity for those who may have been considering Help to Buy but missed the deadline, Home Reach Flex provides the opportunity for first time buyers and movers to purchase a home without needing a large deposit or high household income. With added flexibility around the nomination period, staircasing, and household income criteria, we’re already seeing high levels of interest in this our new homeownership scheme.”

Melissa Toomey, Director of Sales for Home Reach Flex