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