Part-buy-part-rent

I didn't think i could afford to buy after my divorce but i have a gorgeous new home now thanks to Home Reach

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After her divorce, Dawn McMullen didn’t think she could afford to buy on her own, but she’s now moved to her perfect home at Linden Homes’ Montbray development in Barnstaple, thanks to the Home Reach scheme.

 Dawn, “55 years young”, is an NHS senior healthcare assistant at Barnstaple Hospital. Speaking about her experience, she said: “I was married and we owned our home but when we divorced I found it very difficult to buy with just one salary contributing to a mortgage; the figures just didn’t seem to stack up.  What’s worse is that I hated renting, it was painful to be paying off someone else’s mortgage rather than my own.  

 “I worked consistently and saved up a good deposit but I found myself unable to get out of the renting cycle for eight years and I disliked the lack of control. I used to pay £475 per month for a one bedroom ground floor apartment in Westward Ho! It had night storage heating so it always felt cold and I dreamed of living somewhere warm and comfortable, where I could fix things when I wanted to and decorate how I pleased.”

 She added: “I viewed lots of properties and visited every development locally but Montbray really stood out to me. After speaking to Denise, the sales executive, I learnt about Home Reach, a part-rent-part-buy scheme, and was over the moon that I could afford to buy a beautiful two bedroom apartment at Montbray.

 “I’ve had a great experience moving with Linden Homes and Home Reach has enabled me to get the extra space I need. I have a mortgage on 50 per cent of my home and pay a low monthly rent on the other half. It’s a fantastic scheme and I love the flexibility it provides, as I can easily pay more into the property at any time but know it is mine and that I’ve invested wisely. 

 “The 10 year NHBC warranty that the homes at Montbray include gave me real peace of mind. Everything’s low maintenance – I’m certainly no plumber or electrician and to have everything finished so well is a great comfort, especially to my children, who are always looking out for me. My daughter lives in Torrington and my son is in Exeter, an easy train ride away, so it’s brilliant to be close by and I have a spare room now so my grandsons can stay as well.

 “My new home is gorgeous, it has a fabulous layout and I have to pinch myself that I’ve managed to move and reduce my commute to work at the same time.

 “Home Reach has given me the opportunity to buy a new home and I couldn’t be happier. I’ve had a great experience and want to shout about it so others are aware of how helpful the scheme is – I couldn’t have moved without it.”

 Beverly Rickard, sales manager at Linden Homes, said: “We’re delighted that Dawn was able to buy a new home at Montbray thanks to the Home Reach scheme. It works so well for people who need a bit more space for their money, while offering them flexibility and security.

 “It’s easy to do the maths yourself and think owning your own home or affording the space you need is out of the question, but there are so many initiatives that can help - if you need to raise a bigger deposit, have a property to sell or need lower mortgage repayments – come and visit us and see how we can assist.”

Linden Homes is working in partnership with heylo to offer the Home Reach scheme on selected homes. Wayne Bennett, director of Home Reach, said: “Dawn’s story shows how Home Reach can enable people to secure their perfect home when they didn’t think it was possible. Being able to pay more money into your property at any time is wonderful and offers customers so much flexibility.”

Montbray features an attractive collection of two bedroom apartments, two bedroom coach houses, plus three and four bedroom homes. There are currently three bedroom homes priced from £119,975 with the part-buy-part-rent Home Reach scheme and four bedroom homes available from £169,975, also with Home Reach at a 50 per cent share.

 For more details visit the sales and marketing suite which is open daily from 10am to 5pm, off Tews Lane, Barnstaple, EX31 3XD, call 01271 355 736, email montbray@lindenhomes.co.uk or visit www.lindenhomes.co.uk  


Notes to Editors

What is Home Reach?

With Home Reach, you buy a share of your chosen home and pay a low monthly rent on the part you don't buy. You get to choose whether you buy a bigger share of a lower priced home or a smaller share of a more expensive one.

With the Linden Homes partnership you can initially purchase up to 75% of your chosen home and heylo will become your landlord, granting you a 125-year lease. This means you will be able to live in your home as if you've bought it outright. You can buy more of your home in the future and stop paying rent on that part.

Media can contact Chloe Osborne (cosborne@heylohousing.com) for more information on Home Reach and part buy – part rent.

 About Linden Homes, Galliford Try’s Housebuilding Division

Linden Homes is the award-winning housebuilding division of Galliford Try, one of the UK’s leading housebuilding and construction companies. The residential developer builds high quality schemes in prime locations across the country, striving to create sustainable new developments.

 Linden Homes is committed to investing in future talent through its management trainee scheme. For the third year running, Linden Homes is a proud sponsor of Women in Property’s (WiP) National Student Awards 2018.

 Linden Homes was named Developer of the Year at the 2016 New Energy and Cleantech awards in recognition of its efforts to place environmentally friendly and renewable energy features at the heart of its developments. Linden Homes was also awarded Silver at the What House? awards in 2016 for Sustainable Developer of the Year.

Building over 3,000 homes annually and committed to the redevelopment of brownfield sites, Linden Homes prides itself on its values of excellence, passion, collaboration and integrity - demonstrating strong ethical standards with openness and honesty. These values have laid the foundation for the company’s success and enabled the housebuilder to earn a reputation as a leader in its field: www.lindenhomes.co.uk.

Media can contact Emma Mackay on 077383 12960 for more information, images and interviews with Linden Homes.

heylo’s Your Home Open Days at Michael Anthony Estate Agent

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Your Home and Michael Anthony Estate Agent are hosting two, free events at the Aylesbury branch of the leading estate agency chain.

Your Home is a twist on part-buy-part-rent, helping homebuyers move into their dream home. Normally only available on new builds, Your Home offers buyers a chance to turn a second-hand property for sale with estate agents into part-buy-part-rent.

Not only available for first time buyers, Your Home can be used by those looking to down size, up-size and relocating. There no need for a mortgage (if you don’t want one) and buyers has the right to buy more or move at any time.

To use Your Home, buyers will need to purchase 10% of the property.

“Michael Anthony Estate Agents are proud and delighted to partner with this innovated business to help more people move to their desired home in their preferred area.”

Buyers are invited to meet the team from Michael Anthony Estate Agent’s and Your Home on:

  • Wednesday 30th May from 18:30 to 20:00
  • Saturday 2nd June 11:00 to 13:30

Address: Michael Anthony, 54 Kingsbury, Aylesbury, Bucks, HP20 2JE (there is car park nearby)

Buyers interested in attending, can register here: http://www.yourhome.org.uk/register-your-details-open-day-events

For more information on Your Home visit www.yourhome.org.uk