Crest Nicholson launches Home Reach part buy-part rent ownership in partnership with heylo.
Award-winning housebuilder Crest Nicholson has announced the introduction of Home Reach, its first part buy-part rent ownership option. The new programme is being launched in partnership with specialist heylo and is now available on selected homes and developments.
Home Reach provides a more affordable way onto the housing ladder. It allows users to access all the benefits of owning a home, from the ability to decorate and personalise their home, to the flexibility to sell and move at any point. First time buyers also benefit from Stamp Duty relief on Home Reach properties.
The initiative forms part of Crest Nicholson’s strategy to introduce more affordable and sustainable homes to address changing customer needs. The business is continuing to implement its multi-channel approach, giving more customers opportunities to purchase a Crest Nicholson home.
Tom Nicholson, chief operating officer at Crest Nicholson, commented: “The launch of our partnership with heylo is an exciting step for the business. Home Reach will ensure more people will be able to purchase a Crest Nicholson home. Part buy-part rent is a growing phenomenon in the housing industry. This model of home ownership forms an important strand to our proposition and enables us to better respond to the Government’s housing targets, allowing us to provide much needed homes across the country.”
Wayne Bennett, national director of Home Reach for heylo, commented: “We’re proud to be partnering with Crest Nicholson to offer Home Reach to their customer base. Part buy-part rent is an opportunity for buyers to take a smaller step onto the housing ladder, with the facility to ‘staircase’ up to full ownership, giving buyers the flexibility of owning their own home at a fraction of the cost.”
Shared ownership is a part-buy, part-rent process that allows buyers to purchase a share in a property, with the possibility to increase the share over time up to 100 per cent ownership. The remaining interest in the property is owned by heylo, which acts as the landlord and grants you a 125-year lease. Home Reach is available at selected Crest Nicholson developments.