What is Home Reach?
Home Reach is a scheme backed by the government, designed to help home buyers purchase a property.
You buy a share of your new home and pay a monthly rent on the share that you don't buy. How much you can afford determines what share you buy, so you can buy a bigger home and have a smaller share if you want.
You would ideally need at least a 5% deposit, the larger your deposit the lower your monthly repayments will be.
On the share you do not purchase, you will pay rent of 2.75% of the unsold value as a monthly direct debit. You can always buy a larger share in the property to reduce your mortgage repayments.
Speak to one of our sales advisors for more information.
*YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
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