Avant offers Shared Ownership through Home Reach, Part Buy – Part Rent.
With Home Reach Shared Ownership, you decide how much of the home you would like to buy and can buy shares up to 75% of the purchase price.
Discover Shared Ownership!
With Shared Ownership you buy a share of your ideal Avant home and pay an affordable monthly rent repayment on the part you don’t buy.
To buy with Shared Ownership, you’ll only need a low deposit, and will pay small monthly payments, making it easier to buy the home you’ve always wanted.
Whether you buy a larger share of a lower priced home or a smaller share of a larger home, the choice is yours. In the future, you can increase your home ownership share, and reduce your rental payments on the balance.
Your budget will determine the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home.
You can purchase your share in either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will need to allow for a minimum of 5% deposit. The larger your deposit (typically 10%) the lower your mortgage repayments are likely to be.
For the share you don’t buy, Heylo will become your landlord granting you a lease (lease lengths vary). This means you will be able to live in the home as if you've bought it outright and just pay a low monthly rent to Heylo.
What are the benefits of Shared Ownership?
Affordability
The deposit required for Home Reach new build homes can be significantly lower than those for equivalent homes purchased with a traditional mortgage. This therefore means that it is a more affordable way to purchase a new home and get onto the housing ladder.
Security
Part buy – part rent provides the security of home ownership. Home Reach can support you in buying a new build house that you can permanently call home.
Flexibility
Part buy – part rent allows you to have the freedom to sell your share of the property and move on at any time. There are no fixed term contracts meaning that you won’t be tied down by anything that might affect your work or lifestyle.
Freedom
With Home Reach, you have the freedom to decorate and transform your chosen property, making your house feel like a home.
Staircasing
With part buy – part rent you can increase the share of the Home Reach property you own at any time. This means that you can increase the value that you hold in your Home Reach property without having to move until you own it 100%.
Interested in buying a home with Shared Ownership?
Ask your Sales Advisor for more details.
Terms and conditions
All schemes are subject to terms and conditions and are available on selected plots and developments. For full terms and conditions, click here.
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