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Home Reach is Available at The Warren

Hillcrest Homes is proud to have partnered with heylo housing to help people at all life stages achieve their dream of home ownership.

A range of two- and three-bedroom homes at The Warren in Hurst Green have been made available through a part-buy-part-rent solution, called Home Reach.


Home Reach was launched in 2014 by heylo housing to help more people get on the housing ladder.

Its a part-buy-part-rent solution available on new build properties from selected partners across the country. It enables you to buy a percentage share of a new home or apartment, initially up to 75%, and pay a low, fixed rate monthly rent on the remainder.

Home Reach is flexible. You can buy a large percentage of a cheaper home, or a smaller percentage of a more expensive home according to what is affordable and what your individual living requirements are. This makes it a viable option for all buyers, whether single, living with a partner or with a growing family.


Home Reach has been designed to help those who may be finding it difficult to buy a home via the conventional deposit/mortgage process, either because they are on low incomes or are struggling to save the required deposit to access affordable mortgage repayments.

In some cases, affordability can force buyers into making compromises that aren’t sustainable; such as buying in an area that’s affordable but is too far away from family and friends, good schools or a place of work, or buying a home that needs essential maintenance because it’s cheaper but not being able to afford to have the work done.

Home Reach can help you buy a high-quality new build home, with a ten-year warranty, in a location that you love.


Home Reach is available to both first time buyers and those who used to own a home, but perhaps cannot afford to buy outright now.

To qualify for Home Reach at The Warren, you have to meet certain eligibility requirements.

Your combined household income must not exceed £80,000 per year and the property you are buying must be your principle and only home.

You will need a deposit of 5% of the value of the percentage share you hope to buy, and you will need to complete a financial assessment to ensure both the purchase and the associated monthly costs are affordable for you.

Am I eligible?

  • Your Household income does not exceed £80,000 per annum
  • You have a deposit (At least 5% of the share purchase value)
  • You are a first time buyer or used to own a home but cannot afford to buy outright now
  • You currently occupy a shared ownership property and are looking to move
  • The shared ownership property will be your principle and only home
  • You have passed financial assessment demonstrating you can purchase the minimum share value and support monthly running costs


You buy a share of a property, funded by a deposit of at least 5% of the value of the share and obtain a mortgage to buy the remainder.  Each month, alongside your mortgage payment, you pay a low monthly rent for the percentage share of the home you didn’t buy. The rent is 2.75% of the purchase value of the share, and increases in line with inflation (RPI) plus 0.5% each year.

At any time, you can purchase a further share of the property up to the point where you own 100% and stop paying rent altogether. You can also sell the property at any time and benefit from any increase in its value.

Your 5% deposit, stamp duty land tax and mortgage payments are all calculated based on the value of the percentage share you buy, so are usually lower than if you had purchased the home outright.

Here’s an example of how Home Reach could help a potential buyer purchase a two-bedroom end of terrace bungalow at The Warren (plot 14) with a 100% purchase price of £260,000 (OMV):

  • You have a household annual income of at least £28,841
  • A financial assessment qualifies you to buy a 25% share of the £260,000 property
  • The 25% share purchase price is £65,000, this could be funded via a mortgage
  • You would need a deposit of at least £3,250, which is 5% of the share purchase price
  • Your estimated mortgage repayment could be £308.46 (pcm), based on 3.99% over 25 years
  • Your Monthly Rental Payments on the unpurchased 75% share would be £446.88 (pcm)
  • As the co-owner and freeholder, heylo charges a small admin fee to administer the Home Reach scheme of £17.92 pcm. It also obtains building insurance for the property at a competitive rate of approximately £230 per year
  • In this example scenario, your estimated combined monthly payments would be £828.26 (pcm), excluding bills and living expenses*

This is just an example. You can initially purchase up to 75% of a Home Reach property.


Unlike renting, a home purchased via Home Reach is yours.

You can decorate it as you like and make changes or improvements to it, within planning guidelines of course. You have the security of home ownership with no threat of a landlord ending your tenancy before you are ready to move.

If you decide to sell it and move on, you could also benefit from a return on your investment should it have increased in market value.

However, when buying through Home Reach you enter a contractual agreement with heylo to pay for the rental of the unpurchased share every month by direct debit, just as you would with a tenancy agreement. If you fall behind in your payments, heylo will contact you to help arrange a payment or repayment plan.


If you are interested in buying one of the new homes at The Warren through Home Reach contact our sales agents Honeywells in Clitheroe on 01200 426041. They will guide you through the application process and start you on your path to home ownership.

For more information on Home Reach and heylo housing visit: https://www.homereach.org.uk/

*illustrated cost only, for exact costings please speak to a financial advisor. Figure includes rent on the unsold and mortgage payment based on 25% share and a 5% deposit.