Frequently Asked Questions

Learn more about Home Reach and buying a new build home

What is the maximum share I can purchase?

The maximum initial share you can purchase is 75% but you can buy more shares later, increasing the percentage until you fully own your home if you choose.

Do I have to have a connection to the local area?

Not always. Some developments require a local connection. This will be outlined in the individual eligibility criteria.

How am I eligible?

To be eligible for Home Reach, your annual household income will be £80,000 or under and you will have passed a financial assessment demonstrating that you are financially able to purchase and support the monthly costs. For full eligibility criteria, please click here.

What is a Help to Buy Agent?

A Help to Buy Agent is usually an appointed Registered Provider that acts as a point of contact for people looking for shared ownership properties. By registering with them, you will be notified about all the shared ownership developments available win your chosen area.

Why is my Home Reach home sold as leasehold?

All shared ownership properties are sold on a leasehold basis, even if you are purchasing a house. This is because heylo is your landlord for the unsold share. If you staircase to 100%, where possible the freehold will be transferred to you and the shared ownership lease falls away.

What happens if I want to move?

If you would like to sell your home, contact heylo who will guide you through the process. There will also be information available to you in your lease document.

How do I buy more of my home?

You can increase your share in your property at any time after you complete your initial purchase. This is known as ‘staircasing’. Each time you staircase, you will need to budget for: Valuation fee Legal expenses SDLT (if applicable) Mortgage fees

What happens if I miss a rent payment?

Your rent is a contractual agreement between you and heylo. If you fall behind with your rent or service charges, heylo will contact you to arrange payment or a repayment plan.

Can't find the answer you're looking for?

If there is anything else that you need to know and isn't answered in our FAQs, please feel free to contact us, by clicking here

Contact Us