The Benefits of Shared Ownership

What's included in a Home Reach lease?

What is Home Reach?

What are the costs involved with Home Reach?

How does resales and staircasing work?

Shared Ownership eligibility

 What are my rights and responsibilities?

Help to Buy Agents Closing

Find out how Shared Ownership works

Now available with Home Reach – Attractive 2 & 4-bed homes at Oakland Park, Ripon

Fantastic new 1 & 2-bed apartments available at Dover Court, Southall

2-bedroom apartments now available at the landmark development of Belgrave Village, Birmingham

A stunning 2-bedroom home perfect for commuters and first-time buyers at Greenfield Park, Bishop Auckland, per

New Shared Ownership Showcase Event at Pinfold Manor, Preston, Lancashire

<div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
  <p class="format-primary"><span style="background-color: transparent; font-family: inherit; font-size: 1em; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: bold; letter-spacing: 0px;">Can I decorate?<br /></span><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">You are able to decorate the property however you wish and don't need our permission to do so. If you wish to make any structural changes, you would need to apply in writing to outline the changes you would like to make. heylo will review the application and will be in touch with a decision or requesting more information. If you are given the go-ahead, you are responsible for the structural changes.</span></p>
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<h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">Can I see a copy of the lease?</h4>
<p><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">heylo uses a Government Standard Lease, a copy of the lease can be downloaded <a href="https://www.gov.uk/guidance/capital-funding-guide/1-help-to-buy-shared-ownership">here.</a></span></p>
<h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">What is the minimum share I can purchase?</h4>
<p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">The minimum share available will depend on your affordability, plot and development. We suggest you speak to both the team on site for more information and an Independent Mortgage advisor to confirm your affordability.</p>
<h4><span style="background-color: transparent; font-family: inherit; font-size: 1em; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; letter-spacing: 0px;">Who will I contact if I have a problem once I have moved in?</span></h4>
<p><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">If you have a problem, please email <a href="mailto:portfolio@heylohousing.com">portfolio@heylohousing.com</a> or alternatively you can call <a href="tel:02038800415">020 3880 0415</a> who will be able to assist you.</span></p>
<h4 class="format-primary">What is a managing agent?</h4>
<p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">Your managing agent is responsible for the maintenance of any communal areas on the estate you live on, or the block you live in (if you live in a flat); they will either collect the service charges directly from you, or we will collect it on their behalf with your monthly rent.</p>
<h4>What will happen once I move in?</h4>
<p>Once you&rsquo;ve moved in, a member of the heylo team will be in touch with your welcome letter and some information about the lease.</p>
<h4><span style="background-color: transparent; font-family: inherit; font-size: 1em; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: bold; letter-spacing: 0px;">Can I have a pet?</span></h4>
<p class="format-primary">If you live in a house you do not need our permission to have a pet. If you live in a flat you will need to get permission from the managing agent for your block; once you have permission from the managing agent you should forward us a copy for our records.</p>
<h4>Can I sublet?</h4>
<p>You are unable to sublet your entire property, however you are able to rent out a room. There is one standard exception to subletting the property which is if you are in the Armed Forces. If you are posted and would like to sublet your property whilst deployed, you must notify us (heylo housing), sending us a copy of your posting letter. and will agree a set period in which the property could be sublet &ndash; it would also need to be agreed with your mortgage lender.</p>
<div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
  <h4 class="format-primary">What are my responsibilities?</h4>
  <p class="format-primary">For your rights and responsibilities, please<span>&nbsp;</span><a href="https://homereach.org.uk/guides-and-faqs/what-are-my-rights-and-responsibilities">click here.</a></p>
  <h4 class="format-primary">Why is my Home Reach home sold as leasehold?</h4>
  <p class="format-primary">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.</p>
  <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
    <h4 class="format-primary">What is the maximum share I can purchase?</h4>
    <p class="format-primary">The maximum initial share you can purchase is 75% , increasing the percentage until you fully own your home if you so choose. Different terms may apply if you buy a home in what is known as a Designated Protect Area (DPA).</p>
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  <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
    <h4 class="format-primary">Do I have to have a connection to the local area?</h4>
    <p class="format-primary">Not always. Some developments require a local connection. This will be outlined in the individual eligibility criteria.</p>
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  <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
    <h4 class="format-primary">How am I eligible?</h4>
    <p class="format-primary"><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">To be eligible for Home Reach, your annual household income will be &pound;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</span><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">&nbsp;</span><a href="https://www.homereach.org.uk/guides-and-faqs/shared-ownership-legibility" style="letter-spacing: 0px;">click here</a><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">.</span></p>
    <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
      <h4 class="format-primary">Am I able to use Home Reach if I'm not from the UK?</h4>
      <p class="format-primary">Yes, providing that you have all of the relevant approvals and documentation to obtain a visa to live in the UK. You will need to meet the eligibility criteria set by the government and pass a financial qualification.</p>
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    <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
      <h4 class="format-primary">I have reserved a plot, but it is still showing on your website</h4>
      <p class="format-primary">Home Reach advertises homes by house type, it could be that there are more than one house type available at that development.</p>
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    <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
      <h4 class="format-primary">What is a Financial Qualification?</h4>
      <p class="format-primary">A financial qualification is conducted by an Independent Mortgage Advisor to check your affordability for the Home Reach scheme. They will complete a Homes England Affordability Calculator on your behalf, this will indicate the share % you are able to afford and sustain.</p>
      <h4 class="format-primary">Do you offer any incentive for those serving in the Armed Forces?</h4>
      <p class="format-primary">We offer &pound;500 towards legal fees for those currently serving in the Armed Forces. To redeem this offer, simply send a copy of your ID along with the reservation form. Please note, there is no cash alternative and this will be deducted from your completion statement.</p>
      <h4 class="format-primary">Can I decide the share I would like to buy?</h4>
      <p class="format-primary">The Homes England Affordability Calculator will determined the share you are able to purchase, this is based on your deposit, affordability and sustainability.</p>
      <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
        <h4 class="format-primary">Where can I find out more about shared ownership?</h4>
        <p class="format-primary">You can find out more about shared ownership from any of the following portals. <br />Home Reach &ndash; <a href="https://homereach.org.uk/guides-and-faqs/what-is-part-buy-part-rent">https://www.homereach.org.uk</a><br />Share to Buy &ndash; <a href="https://www.sharetobuy.com">https://www.sharetobuy.com</a> <br />Keaze &ndash; <a href="https://keaze.com/">https://www.keaze.com</a><br />Government website &ndash; <a href="https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme">https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme</a></p>
        <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
          <h4 class="format-primary">How do I book a viewing?</h4>
          <p class="format-primary">Viewings are still being conducted on sites with Home Reach available. All viewings are currently by appointment only. To book your viewing, you will need to register your interest on your development of choice and a member of the team will be in contact to discuss your interest further, answer any questions you may have and arrange a viewing appointment. Please note that Home Reach are unable to book viewings on your behalf.</p>
          <p class="format-primary"></p>
        </div>
        <h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">Can I make a structural change to my home?</h4>
        <p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">To make a structural change to your home, you will need to have all of the relevant building permissions and submit them to heylo which will then be reviewed and the relevant approvals granted. Structural changes are considered as: <br />&bull; Making structural alterations (such as moving walls or extensions, including conservatories and loft extensions) <br />&bull; Replace external doors and windows <br />&bull; Install central heating systems <br />&bull; Replace your boiler <br />&bull; Replace or upgrade any electrics</p>
        <h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">Do you do rental properties?</h4>
        <p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">No, all properties on Home Reach are available on a shared ownership basis.</p>
        <h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">How do I find out where I am in the sales process?</h4>
        <p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">The team on site and your solicitors will be able to keep you up to date on the progress of your sale. If you have any questions you can complete a reserved contact form <a href="https://homereach.org.uk/contact-us">here</a> &ndash; and a member of the team will be in contact.</p>
        <div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
          <h4 class="format-primary">Am I able to sublet a room?</h4>
          <p class="format-primary">You are able to sublet a room in your home under the Governments&rsquo; Rent a Room scheme without our permission, though we do ask that you let us know you are doing so. You are unable to sublet the whole property unless you are a member of the Armed Forces and are being posted. In these circumstances, heylo would require a copy of the posting letter and an agreement with your mortgage lender.</p>
        </div>
        <a href="https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme"> </a>
      </div>
      <a href="https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme"> </a>
    </div>
    <a href="https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme"> </a>
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  <a href="https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme"> </a>
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General Information

<h4 class="format-primary">Will I need to pay a product fee for using Home Reach?</h4>
<p>There is no product fee to purchase a new build part buy &ndash; part rent property through Home Reach. You will be required to pay a reservation fee to secure your home. Please speak to the sales team at your development for more information on the reservation</p>
<h4 class="format-primary">What will the monthly costs be?</h4>
<p>In addition to your household bills, you will pay a monthly rent on the unpurchased share and your mortgage payments on the share you own (if you have one). Monthly rent starts from 2.75% per annum (on the value of the share you do not own) Rent will increase each year with inflation (RPI) + 0.5%. You will also need to pay a lease management fee, your solicitors will be able to advise you on the exact costs.</p>
<h4 class="format-primary">What is the heylo lease management fee?</h4>
<p>The lease management fees for heylo homeowners will be &pound;23.52 per month until 31/03/2024 and increases annually in line with RPI.</p>
<h4 class="format-primary">What will the upfront costs be?</h4>
<p>There is no product fee to purchase a new build part-buy-part-rent property through Home Reach. You will be required to pay a reservation fee to secure your home. Please speak to the sales team at your development for more information on the reservation fee and when it will be payable.</p>
<h4 class="format-primary">Do I pay Stamp Duty Land TAX (SDLT) on a Home Reach property?</h4>
<p>When you purchase a part buy &ndash; part rent property, you can pay Stamp Duty Land Tax on the value of your share or the entire property, please seek further legal advice for more information. First Time Buyers purchasing a part buy &ndash; part rent (Home Reach) property, valued up to &pound;500,000 will pay no Stamp Duty Land Tax. Your Independent mortgage advisor (IMA) or solicitor will be able to give you more information and you should seek further legal advice for details.</p>
<h4 class="format-primary">Will I need to pay a service charge or an estate fee?</h4>
<p>heylo does not charge an estate fee or service charge, however if you are purchasing a property which has a service charge or estate fee this will be payable directly to them. Please speak to the sales team on site, who will be able to provide more information.</p>
<h4 class="format-primary">How will I pay my rent?</h4>
<p>Rent will be collected monthly, the easiest way to pay your rent is by direct debit, as the payments are taken automatically so you don&rsquo;t have to worry about missing a payment. We will tell you in advance if the amount or the date of your direct debit is going to change, and your payment instruction will be automatically updated. On completion, you will need to fill in a direct debit mandate.</p>

Costs

<h4 class="format-primary">How is my rent calculated?</h4>
<p>Rent is initially charged at a rate of 2.75% on the value of the share that you do not own. It is increased annually in April by RPI (as at the previous September) + 0.5%.</p>
<h4 class="format-primary">When will I stop paying rent?</h4>
<p class="format-primary">You will stop paying rent when you own 100% of the property. Estate or service charges may still apply.</p>
<h4 class="format-primary">What happens if I miss a rent payment?</h4>
<p class="format-primary">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. If you think you will have difficulty making your rent payments you should contact our portfolio team on 020 3744 0415 or email <a href="mailto:portfolio@heylohousing.com">portfolio@heylohousing.com</a>.</p>

Rent

<h4 class="format-primary">How do I buy more of my home?</h4>
<p>You can increase your share in your property at any time after you complete your initial purchase. This is known as &lsquo;staircasing&rsquo;. Each time you staircase, you will need to budget for: your solicitor&rsquo;s fees, RICS (Royal Institution of Chartered Surveyors) valuation, heylo staircasing admin fee - &pound;150 +VAT, Mortgage fees (if applicable), Stamp Duty Land Tax (SDLT). You&rsquo;ll need to send to us RICS (Royal Institution of Chartered Surveyors) valuation with written confirmation that you would like to purchase more of your home; once we have looked at it we can confirm how much you will need to pay to purchase any additional shares, and how your rent will change once you&rsquo;ve done so. The cost to purchase additional shares is based on the current market value of your home.</p>
<h4>What will happen to my rent when I staircase?</h4>
<p>When you staircase, your rent will fall in line with your new share ownership, as you only pay rent on the share of the property you don&rsquo;t own. If you staircase to 100%, you will no longer need to pay rent. If you pay ground rent or a service charge on your lease, this will still be due after you staircase to 100%.</p>
<h4>Is there a minimum time I have to wait before staircasing?</h4>
<p>You can staircase at any time of your choosing.</p>
<h4>How many times can I staircase?</h4>
<p>You can staircase as many times as you want. Please refer to your lease for minimum staircasing increments.</p>
<div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
  <h4 class="format-primary">Where can I find out more about staircasing on my home?</h4>
  <p class="format-primary">You can find out more about staircasing on your Home Reach property <a href="https://heylohousing.com/staircasing">here.</a></p>
  <h4 class="format-primary"><span style="font-size: 0.9375rem; letter-spacing: 0px;">How do I apply to staircase on my property?</span></h4>
  <p class="format-primary"><span style="font-size: 0.9375rem; letter-spacing: 0px;">You can download our application to staircase form to buy more shares in your property <a href="https://heylohousing.com/staircasing">here.</a>&nbsp;You will need to send your completed form and RICs valuation to <a href="mailto:resales.staircasing@heylohousing.com">resales.staircasing@heylohousing.com</a></span><span style="font-size: 0.9375rem; letter-spacing: 0px;"></span></p>
  <p class="format-primary"><span style="font-size: 0.9375rem; letter-spacing: 0px;"></span></p>
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<h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">When you own 100% what happens?</h4>
<p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12"><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">You will no longer pay heylo any rent. However, there are still some ongoing costs you need to be aware of, depending on what type of home you own. If your home is an apartment: you will continue to pay service and management charges, including ground rent. You will remain covered under the block&rsquo;s buildings insurance policy. If your home is a house: it may be possible for the freehold to be transferred to you when you have staircase to 100%. This will depend on the title which heylo holds for your property and the staircasing provisions in your shared ownership lease. In some cases, you may still have to pay an estate management charge if you live on an estate and are responsible for some of the communal upkeep costs.</span></p>
<h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">Are there restrictions on staircasing?</h4>
<p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12"><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">Yes, there can be restrictions on staircasing. Check your lease, which will mention whether you are entitled to purchase 100%, or if the property has a restricted maximum share.</span></p>
<div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
  <h4 class="format-primary">How long does the staircasing process take?</h4>
  <p class="format-primary">Once heylo&rsquo;s solicitors have been instructed, the process will take approximately 6-8 weeks*. *Arranging a valuation and mortgage discussions (if applicable) not included within this timeframe.</p>
</div>

Buying More Shares

<h4 class="format-primary">What happens if I want to move?</h4>
<p>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.</p>
<h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">Can I sell my share on the open market?</h4>
<p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">Only once the nominations period has passed without heylo finding a purchaser, you have the option to instruct a local estate agent to market the property on the open market. The agent can market your share, or the entire property, unless restrictions on the share that can be marketed are stated in your lease.</p>
<h4>What is the heylo resale fee?</h4>
<p>Admin Fee (purchaser found by heylo in nominations period) - &pound;1,000 +VAT Admin Fee (purchaser found outside of nominations period) - &pound;450 +VAT. This fee will be collected on completion.</p>
<h4 class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">How do I apply to sell my property?</h4>
<p class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12"><span style="background-color: transparent; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; letter-spacing: 0px;">You can download our resale application form to sell your property here - <a href="https://heylohousing.com/resales">https://heylohousing.com/resales</a> You will need to send your completed form and supported documents requested to <a href="mailto:resales.staircasing@heylohousing.com">resales.staircasing@heylohousing.com</a></span></p>

Selling a Home Reach Home

<h4 class="format-primary">What insurance will I need once I&rsquo;ve purchased a Home Reach home?</h4>
<p>You will need to make sure you have the appropriate contents insurance in place.</p>
<div class="faq col-lg-6 col-md-6 col-sm-12 col-xs-12">
  <h4 class="format-primary">Why does heylo have to take out building insurance on my property?</h4>
  <p class="format-primary">Under the terms of your shared ownership lease the building is insured by us, heylo housing, as your landlord (unless you live in a flat and your managing agent insures the building). The buildings insurance policy does not cover your contents. Our insurance policy runs from October to October each year and is recharged back annually to the buyer. The insurance policy covers the whole of the property, so you don&rsquo;t need to insure your share separately. It will cover any standard insurance requirements by your mortgage lender as well. Due to the legal interest, It is not possible to have your own buildings insurance policy.</p>
</div>

Insurance

How can we help you?

Everything you need to know about Home Reach