Heylo delivers its 50th ‘do-it-yourself’ shared ownership home in less than a year

Since launching “Your Home” less than a year ago, Heylo Housing (“Heylo”) has recently provided its 50th ‘do it yourself’ shared ownership (“DIYSO”) home.

Available exclusively from Heylo, “Your Home” helps individuals and families get on the property ladder in an affordable way. Customers have the choice of almost any second hand property for sale anywhere in England and Wales.

With just a 10% cash deposit customers can part-buy, part-rent via a shared ownership lease. In addition to not needing a mortgage they receive 75% of any increase in the value of the part of the property they did not buy.

The average customer deposit of the 50 DIYSO homes delivered to date has been £43,000 – representing a 16% share of an average £270,000 property price.

The properties acquired have been almost all 3 bedroom homes and the majority of Your Home customers had previously been living in private rented accommodation as they were unable to raise a mortgage to buy the size of property they need in the area they want to live.

Nicholas McAlpine-Lee, CEO of Heylo said “We have been careful to market Your Home through limited channels during its first year to ensure the customer proposition and buying process works as smoothly as possible. We have been delighted by the customer response and given this success we have now expanded the Your Home offer to include leasehold as well as freehold properties.”

Your Home addresses a gap in the shared ownership market for people wanting to part-buy, part-rent a second hand property. Once approved, Your Home customers have full control over the home buying process with the benefits of Heylo standing behind them as a cash buyer.

Nicholas McAlpine-Lee again; “Not only are we building a pipeline of Your Home applications to deliver more than 150 shared ownership homes in the next 12 months, we have expanded the DIYSO offer to Local Authorities and Housing Associations looking to replace lost stock via street property acquisitions funded with Right To Buy Receipts. We hope that this variation, called Let’s Share, will help solve the 1-for-1 replacement challenges of rented affordable housing evident across a number of Local Authorities today.”

Formed just 2 years ago Heylo is a joint venture with a leading local authority backed by pension fund investment. Already active in over 80 Local Authorities, Heylo currently provides over 800 shared ownership homes and has one of the largest shared ownership delivery pipelines in the UK via its Your Home, Home Reach and Let’s Share brands.

END

Heylo launches solution to deliver better than 'like for like' replacement of sold Affordable Homes

   

Let's Share-logo colour.png

Heylo Housing, a joint venture with Lancashire County Council, has launched a solution for Local Authorities and Housing Associations that can deliver better than 'like for like' replacements of properties sold under Right To Buy or vacant higher value disposals.

Let's Share, which can now be used for new build or second hand properties, brings the affordability benefits of shared ownership (where customers only buy part of a property but have access to the whole unit of housing) to Local Authorities and Housing Associations.

With a low annual rent on the unpurchased share of the property and blanket agreement for sub-lease these public bodies can then let the property and address local housing needs on whatever basis they decide.

Nicholas McAlpine-Lee, CEO of Heylo Housing said, "We have developed Let's Share to ensure that the supply of affordable housing in local communities is not just maintained but improved. With the ability to buy properties in the second hand market, Let’s Share allows capital receipts to be reinvested very quickly relieving budgetary pressures from temporary housing."

Going forward, Local Authorities and Housing Associations have full control over their lettings strategy and asset management on a property by property basis - with the added bonus that a sale of their share is still affordable housing supply in the form of shared ownership to customers.

More information is available at www.LetsShare.org.uk

END

 

Heylo team goes from strength to strength as Raj Upadhyaya and Danny Kaye, formerly of The Guinness Partnership, join the team

  

  

Raj Upadhyaya, previously Group Investment Director of the Guinness Partnership and MD of Guinness Developments, together with Danny Kaye, his former Director of Special Projects have joined the Heylo Housing (“Heylo”) team to engage with local authorities and house builders to deliver affordable shared ownership homes across London and the South East of England.

Nicholas McAlpine-Lee, CEO of Heylo said “We are delighted to welcome Raj and Danny to the team. Their extensive experience with one of the country’s leading Housing Associations and their dedication to affordable housing delivery will help expand Heylo’s activities in the South East – building on existing relationships to drive significant volumes of new affordable housing.”

Raj Upadhyaya said “We are delighted to join the Heylo team. Heylo’s established affordable housing solutions such as Home Reach and Let’s Share can really make a difference to affordable housing delivery in London and the South East.”

Delivering 80% of open market value on shared ownership Section 106 properties regardless of the size of scheme, Home Reach contracts can help developers and local authorities address those all-important viability and affordable housing delivery challenges.

Heylo’s Let’s Share solution takes the established concept of shared ownership one step further allowing the local authority (or local housing association) to own the share of a property which they can in turn offer to their community for rent – thus maximising the number of properties they can deliver from their investment capital such as Right To Buy receipts.

Danny Kaye said “Raj and I look forward to working the Heylo team to build on existing long term relationships and address the housing needs of local communities with certainty, simplicity and reliability.”

Nicholas McAlpine-Lee again “Over the past year Heylo has signed contracts with a number of leading developers and is keen to do all that it can to deliver affordable shared ownership homes across the country.”

Heylo, is a joint venture with a leading local authority and backed by significant long-term pension fund investment. Having acquired more than 700 properties since September 2014, Heylo currently operates in over 65 local authorities.

END

Pension fund ups investment in Heylo Housing to £300m

3 March 2016 | By Guy Montague-Jones

Heylo Housing’s cornerstone investor, Lancashire County Pension Fund, has increased its investment in the shared-ownership specialist from £180m to £300m.

Lancashire County Pension Fund supported Heylo’s launch in September 2014 with an initial investment of £180m, of which Heylo has already invested more than a third and committed the rest.

It is in the process of looking to source an additional £620m via its second bond issuance to fuel its rapid expansion. The bonds are aimed at large corporate pension funds as they offer secure and inflation-linked long-dated income, helping them match their long-term liabilities.

Nicholas McAlpine-Lee, chief executive of Heylo, said the latest commitment from Lancashire County Pension Fund was a vote of confidence in the business.

“As our joint venture partner and cornerstone investor, this additional funding affirms the excellent progress we have made over our first 15 month and supports Heylo’s continued desire to do all that it can to deliver affordable shared ownership housing to communities across the country,” he said.

The company, which is backed by Internos, currently provides more than 600 affordable homes across 40 local authorities and expects to double that by the end of this year.

Under Heylo’s Home Reach contracts, developers and housebuilders build and sell new shared-ownership homes and simultaneously sell the landlord’s position in the leases to Heylo via a framework of contracts designed to operate across multiple sites over several years. Developers typically receive 80% of open-market value at the point of sale.

Heylo Housing looks to raise £620m to fuel rapid growth (By Guy Montague-Jones, Property Week)

Shared-ownership specialist Heylo Housing is looking to raise £620m via its second bond issuance to fuel its rapid expansion.

The company, which launched in September 2014, currently provides more than 600 affordable homes across 40 local authorities and expects to double that by the end of this year.

Lancashire County Pension Fund supported Heylo’s launch with an initial investment of £180m, of which Heylo has already invested more than a third and committed the rest.

As a result, it is looking to source an additional £620m on the bond markets, and has enlisted the help of UBS and Royal Bank of Canada. The bonds are aimed at large corporate pension funds as they offer secure and inflation-linked long-dated income, helping them match their long-term liabilities.

“This is the purest income match we’ve seen to uncapped RPI, rising on an annual basis from leases that are typically 125 years in length,” said Steve Faber, head of UK investment management at Internos, which is a Heylo shareholder and acts as fiduciary supervisor to the bonds.

Heylo’s chief executive Nicholas McAlpine-Lee said he was pleased how quickly the company had grown. “We are pleasantly surprised that we’ve committed our first round of funding already,” he said. “We have been stepping up to fill the gaps for local authorities and housebuilders needing to fulfil their affordable housing obligations.”

Under Heylo’s Home Reach contracts, developers and housebuilders build and sell new shared-ownership homes and simultaneously sell the landlord’s position in the leases to Heylo via a framework of contracts designed to operate across multiple sites over several years. McAlpine-Lee claimed that developers typically receive 80% of open-market value at the point of sale.

The popularity of shared ownership has also helped, he added, citing the growth of its retail product YourHome.org.uk, on the back of next to no marketing. It allows people to buy homes on the open market and convert them to shared.

“In the current environment, we hope to add more than 1,000 affordable homes to our portfolio every year,” said McAlpine-Lee.

END

Heylo Housing acquires over £9m of properties from Bovis Homes

Building upon its UK wide engagement and recent transactions with a growing number of National and Regional house builders, Heylo Housing (Heylo) has acquired over £9m of properties from Bovis Homes.

Nicholas McAlpine-Lee, CEO of Heylo said, “We are delighted to have concluded this transaction in less than a month demonstrating Heylo’s ability to deliver. We hope that these acquisitions will serve to build a wider relationship with Bovis Homes and other house builders in 2016 and beyond."

All of the properties will be made available on a shared ownership basis further enhancing the level of new affordable housing delivery in the UK.

Heylo has already acquired over 600 properties in more than 40 local authorities since it launched in September 2014 and is currently in contract with house builders across the UK to deliver significantly more affordable shared ownership housing over the next 12 months via Heylo’s Home Reach solution.

END

Heylo continues to grow as Vic O’Brien, former Group Development Director of Greensquare, joins the team

Vic O’Brien, previously Group Development Director of housing association Greensquare, has joined the Heylo Housing (“Heylo”) team to engage with house builders and local authorities to deliver affordable shared ownership homes across the South and South West of England.

Nicholas McAlpine-Lee, CEO of Heylo said “We are delighted to welcome Vic to the team. His development experience and passion for affordable housing delivery will greatly assist Heylo create and build on existing partnerships to drive significant volumes of new affordable housing.”

Vic O’Brien said “I am delighted to join the Heylo team. The contribution Heylo and its products such as Home Reach and Let’s Share can make to affordable housing delivery in the South and South West regions is immense.”

Delivering 80% of open market value on shared ownership Section 106 properties, Home Reach contracts can help developers and local authorities address those all-important viability and affordable hosing delivery challenges.

Heylo’s Let’s Share solution takes the established concept of shared ownership one step further allowing the local authority (or local housing association) to own the share of a property which they can in turn offer to their community for rent – thus maximising the number of properties they can deliver from their investment capital.

Vic O’Brien again “I look forward to meeting local authorities and developers in the near future to build long term relationships and provide contractual solutions to solve the housing needs of local communities and make schemes truly viable with certainty, simplicity and reliability.”

Nicholas McAlpine-Lee again “Over the past 9 months Heylo has signed contracts with a number of leading developers and is keen to do all that it can to deliver affordable shared ownership homes across the country.”

Heylo, is a joint venture with a leading local authority and backed by significant long-term pension fund investment. Having acquired over 600 properties since September 2014, Heylo currently operates in more than 40 local authorities. 

End

heylo becomes an Associate member of the Council of Mortgage Lenders

  

In recognition of Heylo Housing's (heylo's) ongoing working relationship with shared ownership mortgage lenders across the country, heylo is delighted to become an Associate member of the Council of Mortgage Lenders - the main trade body representing mortgage lenders in the UK.

Nicholas McAlpine-Lee, CEO of heylo said, "We are delighted to become a member of the CML and look forward to continued working with this excellent trade body and its lending Members." 

Active in more than 50 local authorities, heylo currently works with 15 UK mortgage lenders that provide shared ownership mortgages to more than 350 heylo customers.

Working with house builders across the country, heylo is aiming to deliver more than 4,000 new affordable shared ownership properties over the next 3 years - underpinning more than 20,000 new build homes.

END

 

Heylo Housing launches “Your Front Door” – a new shared ownership solution for Starter Homes and Discounted Market Sale properties

Heylo Housing Limited (“Heylo”) has launched an affordable shared ownership solution for individuals and families looking purchase a Starter Home or Discounted Market Sale property.

Available exclusively from Heylo, “Your Front Door”, which does not require a mortgage, enables customers to buy a share of discounted properties for sale across the UK with just a 10% cash deposit.

Customers part-buy and part-rent their property via a long term shared ownership lease which gives them security of ownership as well as the added benefit of at least 75% of any increase in the value of the part of the property they do not own.

Nicholas McAlpine-Lee, CEO of Heylo said “Having developed this solution in conjunction with a number of leading Local Authorities, we are delighted to launch Your Front Door. This product should address a gap in the shared ownership market for people wanting to part-buy, part-rent properties for sale at a discount – including the recently announced pipeline of Starter Homes.”

The act of selling these discounted properties as shared ownership can enfranchise more than twice as many potential buyers across the country – liberating Generation Rent and supporting increased house building activity.

Heylo, a joint venture with a leading local authority backed by pension fund investment, is currently active in over 50 Local Authorities. Having already contracted with major house builders to deliver 1,000’s of affordable homes across the UK over the next 3 years under its Home Reach brand. More information on Your Front Door is available from our consumer web site at www.YourFrontDoor.org.uk

Nicholas McAlpine-Lee again, “The affordability benefits of buying a share without the need for a mortgage will significantly increase the number of people who can purchase these types of properties – as well as giving developers increased confidence to deliver more.”

END

Heylo Housing appoints UBS and RBC to raise an additional £620,000,000 to fund current pipeline of affordable housing opportunities

  

  

Heylo Housing appoints UBS and RBC to raise an additional £620,000,000 to fund current pipeline of affordable housing opportunities

Heylo Housing Limited (“Heylo”) a joint venture with a leading Local Authority has appointed UBS and RBC to help raise an additional £620,000,000 of debt financing to fund its current pipeline of more than 6,000 affordable homes over the next 3 years.

Following completion of a number of large scale Home Reach contracts with developers, including Bellway PLC, Heylo is now engaged in contractual discussions with national and regional house builders across the UK to deliver a significant pipeline of Section 106 new build affordable housing.

Following the successful pilot launch of Your Home, a mortgage free do it yourself shared ownership offer for second hand properties, Heylo is already helping over 150 families into home ownership and is now intending to help a further 1,500 families get on and move up the housing ladder.

With Your Front Door, Heylo’s discounted market sale solution, about to roll-out on new build developments in the North of England, Heylo is engaged with a number of Local Authorities across the country to put this ‘ready to go’ solution to work – which will also greatly assist the affordability and delivery of Starter Homes.

Nicholas McAlpine-Lee, CEO of Heylo said “Having already committed our initial fundraising from our cornerstone Local Authority pension fund investor, we are delighted to appoint the experienced teams at UBS and RBC to help us raise these additional funds which we will happily put to work delivering thousands of new affordable homes across the UK.”

For more information on Heylo and its affordable housing solutions visit www.heylohousing.com.

END

Disclaimer: Not for release or distribution, directly or indirectly, in or into the United States or any other jurisdiction where to do so would be unlawful. This communication is not an offer or securities for sale in the United States or any other jurisdiction where to do so would be unlawful. Heylo has not registered, and does not intend to register, any of its securities in any of these jurisdictions. In particular, Heylo’s securities have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act an in compliance with any applicable state securities laws.

Heylo Housing launches “Let’s Share” - a new way for Local Authorities and Housing Associations to use shared ownership to deliver rented affordable housing across the country

  

PRESS RELEASE (6th October 2015)

Heylo Housing Limited (“Heylo”) is bringing the affordability benefits of shared ownership to Local Authorities and Housing Associations looking to deliver rented affordable housing.

Using Let’s Share, Local Authorities and Housing Associations acquire 40% shares in the properties at 60% of open market value (OMV) via 125 year market standard shared ownership leases and receive a blanket consent from heylo to sub-let the properties to tenants on whatever terms they decide.

Nicholas McAlpine-Lee, CEO of Heylo said “Let’s Share brings the affordability benefits of a shared ownership solution to Local Authorities and Housing Associations looking to maintain a supply of new rented affordable housing delivery. The Local Authorities and Housing Associations buying a share have effective full ownership, just like any other shared owner. The embedded discount and shared ownership offer results in a much lower cost of delivery than traditional Section 106 rented stock.”

Buying a 40% share at 60% of OMV and paying a low rent (starting at 2.75%) maximises financial resources and maintains delivery. The full occupation rights of the standard form shared ownership lease and blanket consent for sub-letting ensures full control over the lettings to tenants. In the future the Local Authority or Housing Association can sell their share and realise the value from the embedded discount as well any increase in the value of their share.

Nicholas McAlpine-Lee again, “Based on a £160,000 property this means that Local Authorities and Housing Associations can acquire a single unit of Section 106 affordable housing for 24% of open market value, just £38,400, and cover their costs (the Let’s Share rent, their own management and any maintenance) through sub-letting at a rent of less than £97 per week.”

Developers receive 60% of the full open market value on Section 106 rented properties which means that, in today’s constrained environment, allowing the rented element of Section 106 to be changed to Let’s Share delivery will enable Local Authorities and Housing Associations to continue to supply rented affordable housing.

The "Let’s Share" shared ownership solution has been developed to complement heylo’s existing affordable housing solutions - “Home Reach” (a consumer shared ownership solution) and “Your Front Door” (a mortgage free shared ownership discounted market sale solution).

Currently operating in over 40 Local Authorities Heylo is a joint venture with a leading Local Authority and is backed by significant pension fund investment. For more information on Let’s Share, Home Reach and Your Front Door visit www.heylohousing.com.

Can the UK really build 1,000,000 new homes in the next 5 years?

  

Press Release (23rd September 2015)

Given housing demand in the UK Heylo believes that the short answer is yes. The more difficult question is who will actually build them?

With over 250,000 planning permissions granted last year and at least the same number again of NHBC registered plots currently across the UK one could ask why aren’t we on track to deliver this level of house building already? The answer requires some economic theory about competition (courtesy of the excellent resource that is Wikipedia). For those of you thinking "yawn" just go with this for a minute…

 "Cournot competition is an economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide on independently of each other and at the same time. It is named after Antoine Augustin Cournot (1801-1877) who was inspired by observing competition in a spring water duopoly. It has the following features:

 ·         There is more than one firm and all firms produce a homogeneous product, i.e. there is no product differentiation;

·         Firms do not cooperate, i.e. there is no collusion;

·         Firms have market power, i.e. each firm's output decision affects the good's price;

·         The number of firms is fixed;

·         Firms compete in quantities, and choose quantities simultaneously;

·         The firms are economically rational and act strategically, usually seeking to maximize profit given their competitors' decisions."

 There are many markets around the globe with participants that exhibit some if not all of Cournot’s competition features which are also undersupplied markets – the UK house building sector is no exception.

 When you consider the large volume businesses that deliver the majority of new build housing supply in the UK and the timelines involved for new build development it clearly makes sense for these firms to be “economically rational and act strategically” controlling, as best they can, the demand supply dynamic to maintain prices and profits. 

Therefore, looking to graph below (and historic new build housing delivery figures), the 'run rate' of new build delivery in the UK has been consistently around 130,000 for a number of years (one must suspect this is to ensure that demand and price is maintained to protect profitability and more importantly the viability of house builders over the longer term through economic cycles).

Housing was a key feature of the campaigns in the last general election and is now part of a ‘national conversation’. UK housing investment has taken off (and we are proud and delighted to play our part and do much, much more). There are planning permissions ready to be utilised and more land waiting for housing behind that.

Who will build them? The obvious delivery agents in the short term are house builders. They currently deliver the vast majority of all UK new build housing and are already “geared up” to expand.

If we want these organisations to build more, much more (and quickly), then we need to address Cournot’s competition model and the, quite correct, behaviours that have made house builders successful, because let’s face it, no private business is going to embark on a long term strategy to oversupply, push down prices and decrease margins.

 Looking at the demand, supply, price graph above, how do you maintain prices (at a steady rate) and continue profitability whilst significantly increasing supply and new build housing delivery? The answer must be to create more demand... but how?

Make home ownership more accessible and enfranchising more buyers through part-buy models.

The Government's Help to Buy programme has shown that reducing the funding requirement enfranchises more buyers assisting sales rates.

However, there is a product which can make buyer markets even bigger... so big that the increased demand could support the building of up to 300,000 new build properties each year by existing market participants (supply chain permitting of course) - see the graph below.

Shared Ownership, which has existed since the 1970's, is a part-buy, part-rent, low cost home ownership solution that can enfranchise 4 times more buyers compared to private outright purchase - or alternatively sell homes 4 times faster.

Buying a share of the property and charging an affordable long term rent on the unpurchased share means that the initial cost of purchase and ongoing cost of occupation is lower and appeals to a broader market – enfranchising thousands stuck in “generation Rent”.

In the UK there are currently more than 200,000 buyers on shared ownership waiting lists - and to be honest the tenure is not that widely known about. One waiting list organisation, Share to Buy, has a register of over 80,000 'wannabe' shared ownership buyers in and around London alone.

In light of this, delivery rates of new build share ownership properties reported by the Homes and Communities Agency for 2014/15 were 7,102 completions and 3,334 starts on site - the majority of which are actually 'built' by house builders as part of planning obligations – therefore these 200,000 people are a ‘dam waiting to be broken’.

However, whilst shared ownership is the ideal solution to deliver a step change in output by private house builders (indeed the demand for 1,000,000 new build shared ownership properties across the UK at current prices is unlikely to be a constraining factor), Heylo acknowledges that the tenure, market standard leases and processes could be improved.

Firstly, the shared ownership offer has been confused over the years with too many names and inconsistencies.

Second, the true nature of a shared ownership position' needs to be addressed (particularly in respect of a protection of tenants’ equity in distressed scenarios). Heylo believes that the Homes and Communities Agency standard form lease (expected by lenders) should more closely reflect the position of a typical mortgaged property and that simple changes to the lease could achieve this.

Thirdly, given that shared owners are responsible for the maintenance of the whole property but the landlords benefit over time from this maintenance in respect of the value of the landlord’s share, the increased value to the landlord could be more equitably shared with the customer via an improvement in the lease terms when customers purchase the property outright.

Fourthly, mortgage availability, pricing and the simplicity of transacting sales and purchases of what is essentially leasehold property needs to be much improved.

Fifth and finally, given consumer protections at law under the Landlord and Tenant Act and related statues, delivery of shared ownership by private organisations should be further encouraged to significantly ramp up delivery.

These changes and increasing demand to fulfil a step change in new build housing supply should be straight forward. In fact it would be much more straight forward than reversing 200 years of economic competition theory and dismantling, amending or replicating the current house building sector if we truly want the 1,000,000 new homes the UK so desperately needs in the next 5 years.

 

About Heylo Housing

Heylo, a joint venture with a leading local authority backed by pension fund investment, is currently active in over 40 Local Authorities. Having already acquired over 500 shared ownership affordable housing properties, Heylo is contracting with major house builders to deliver thousands of affordable homes across the UK over the next 5 years under its Home Reach brand.

END

Heylo launches “Your Home”, an affordable ‘do it yourself’ shared ownership solution for second hand properties, with an initial funding allocation of £50m

PRESS RELEASE  (21st September 2015)

Heylo Housing Limited (“Heylo”) has launched a ‘do it yourself’ shared ownership solution for individuals and families looking to part-buy, part-rent a second hand property anywhere in the UK using shared ownership.

Available exclusively from Heylo, “Your Home” is a mortgage free way to buy a share of a property for sale with estate agents across the UK with just a 10% cash deposit.

Customers part-buy, part-rent via a 999 year shared ownership lease which gives them security of ownership as well as the added benefit of at least 75% of any increase in the value of the part of the property they did not buy.

Nicholas McAlpine-Lee, CEO of Heylo said “We are delighted to launch Your Home and address a gap in the shared ownership market for people wanting to part-buy, part-rent a second hand property. Once approved by our Independent Financial Adviser partner, Your Home provides customers with full control over the home buying process with the benefits of Heylo standing behind them as a cash buyer.”

Heylo has committed an initial funding allocation of £50m. However, after 2 preliminary emails to just 30,000 recipients Heylo received over 2,000 enquiries and is already considering a significant increase to its initial funding allocation.

Nicholas McAlpine-Lee again; “We have deliberately focussed on freehold houses and limited our marketing efforts to ensure that the Your Home product was easily understood and the buying process was working well. We hoped that Your Home would be well received but we have been amazed by the speed and scale of consumer response.”

Heylo is currently processing more than 500 applications from this initial group and hopes to help over 250 households realise their home ownership aspirations over the next 6 to 9 months.

Nicholas McAlpine-Lee again; “With our Your Home website (www.YourHome.org.uk) getting over 20,000 visitors in the first month and our first Your Home completions coming through we are currently planning our next phase of much broader marketing and looking to significantly increase Your Home affordable housing delivery.” 

Heylo, a joint venture with a leading local authority backed by pension fund investment, is active in over 40 Local Authorities. Having already acquired over 500 shared ownership affordable housing properties, Heylo has contracted with major house builders to deliver over 1,000 affordable homes across the UK over the next 3 years under its Home Reach brand.

END

Ashley Lane, former Group Partnerships Director of Persimmon, joins Heylo Housing team

  

  

PRESS RELEASE (17th September 2015)

Ashley Lane, previously Group Partnerships Director of Persimmon Partnerships, has joined the Heylo Housing (“Heylo”) team to engage with house builders and local authorities to deliver affordable shared ownership homes across the country required as part of planning obligations.

Nicholas McAlpine-Lee, CEO of Heylo said “We are delighted to welcome Ashley to the team. His reputation, experience and knowledge will greatly assist Heylo secure its significant growth ambitions through partnerships and contracts for the delivery of new affordable housing.” 

Ashley Lane said “I am delighted to be working with the Heylo team. The contribution Home Reach and Heylo can make to solving the issue of home ownership accessibility is immense. I look forward to meeting developers and local authorities in the near future to tailor contractual proposals which solve their housing needs and make schemes truly viable with certainty, simplicity and reliability.”

Heylo has already acquired over 500 properties in 25 local authorities since it launched in September 2014 and has signed contracts with leading developers to deliver Heylo’s unique Home Reach solution for Section 106 shared ownership affordable housing.

Home Reach is a new model for the delivery of new build shared ownership homes across the UK in partnership with developers and local authorities. Only available from Heylo Housing, the Home Reach contract, is a re-useable suite of development and sale agreements designed to operate across multiple sites to maximise efficiency and enhance value from affordable housing delivery.

Heylo, which is a joint venture with a leading local authority and backed by pension fund investment, is in the process of signing a series of Home Reach contracts with national and regional house builders to drive affordable housing delivery and to satisfy current and future Section 106 obligations.

END

Larkfleet and Heylo Housing sign agreement to deliver shared ownership affordable homes over the next 5 years

PRESS RELEASE (11th September 2015)

Larkfleet Limited (“Larkfleet”), a UK top 50 house builder, and Heylo Housing Limited (“Heylo”), a newly created joint venture with a leading local authority, have signed a 5 year contract to deliver affordable shared ownership homes across the country required as part of planning obligations.

Heylo has acquired over 500 properties in 25 local authorities since it launched in September 2014 including a portfolio of properties developed by a national top 5 house builder and this is the second long term agreement Heylo has entered into in the last 4 weeks.

Nicholas McAlpine-Lee, CEO of Heylo said “We are delighted to be entering into our second long term agreement and proud to be doing so with a highly respected housebuilder such as Larkfleet. ‘Home Reach’ is a new developer-led model for the delivery of new build shared ownership homes. It will support the much-needed supply of affordable housing across Larkfleet’s key operational areas of Lincolnshire, Cambridgeshire and Rutland – as well as having the potential to support Larkfleet’s recently announced plans to expand across the rest of the UK.”

“The Home Reach contract, a first of its kind, is a re-useable suite of development and sale agreements designed to operate across multiple sites to maximise efficiency and enhance value from affordable housing delivery.”

Heylo, which is backed by local authority pension fund investment, is in the process of signing a series of contracts with national and regional house builders to drive affordable housing delivery and to satisfy current and future Section 106 obligations.

Nicholas McAlpine-Lee again; “Heylo’s efficient operating model and long term funding is able to deliver improved receipts from affordable shared ownership homes which can be employed to unlock viability challenges and maintain affordable housing delivery.”

“Home Reach provides Larkfleet with full control over construction, specification, delivery and sales of shared ownership affordable housing properties with the contractual certainty of satisfaction of Section 106 obligations by an approved alternative affordable housing provider unaffected by the recent changes to the housing association sector model.”

Karl Hick, CEO of Larkfleet Group, said; “We are delighted to have signed this Home Reach agreement with Heylo which will help underpin the Larkfleet Group’s development and growth ambitions with a partner who can give us certainty, simplicity, and reliability over the next 5 years.”  

END

Bellway and Heylo Housing sign agreement to deliver more than 1,000 shared ownership affordable homes over the next 3 years

PRESS RELEASE (27th August 2015)

Bellway PLC (“Bellway”), the UK’s 4th largest national house builder, and Heylo Housing Limited (“Heylo”), a newly created joint venture with a leading local authority, have signed a 3 year contract to deliver affordable shared ownership homes across the country required as part of planning obligations.

Heylo has acquired over 500 properties in 25 local authorities since it launched in September 2014. This includes a portfolio of properties developed by Bellway’s affordable housing subsidiary, Bellway Housing Trust.

Nicholas McAlpine-Lee, CEO of Heylo said “We are proud to partner with Bellway and delighted to bring this new developer- led delivery model for new build shared ownership homes, known as Home Reach, to the market.”

“The Home Reach contract, a first of its kind, is a re-useable suite of development and sale agreements designed to operate across multiple sites to maximise efficiency and enhance value from affordable housing delivery.”

Heylo, which is backed by local authority pension fund investment, expects this to be the first in a series of contracts with national and regional house builders to drive affordable housing delivery and to satisfy current and future Section 106 obligations.

Nicholas McAlpine-Lee again; “Heylo’s efficient operating model and long term funding is able to deliver improved receipts from affordable shared ownership homes which can be employed to unlock viability challenges and maintain affordable housing delivery.”

“Home Reach provides Bellway with full control over construction, specification, delivery and sales of shared ownership affordable housing properties with the contractual certainty of satisfaction of Section 106 obligations by an approved alternative affordable housing provider unaffected by the recent changes to the housing association sector model.”

Simon Scougall, Group Commercial Director of Bellway said; “We are delighted to have concluded the sale of the Bellway Housing Trust properties and to have signed this Home Reach agreement with Heylo which will help underpin Bellway’s development and growth ambitions with a partner who can give us certainty, simplicity, and reliability over the next 3 years.”  

END