Shared Ownership Scheme available at South Yorkshire development

The homes are available to purchase with Home Reach Shared Ownership, which offers those who may be excluded from buying a home an alternative route onto the property ladder.

With Home Reach, property seekers can buy a share of a new home and pay a monthly rent for the part not owned.

Homebuyers can initially buy up to 75% of their chosen home and Home Reach’s parent company, Heylo Housing, will become the landlord.

Sam Wood, Sales Director at Barratt Homes Yorkshire West, said: “We want to help as many people as we can to get onto the housing ladder and Home Reach Shared Ownership is a great way to achieve this.

“It is an ideal way for house hunters to be able to afford a new home because you start by buying a share, rather than the full market value. This usually means the deposit is lower, the mortgage is smaller, and you can buy a larger share in the future if you choose.”

Melissa Toomey, Director of Sales for Home Reach, said: “Shared ownership can be a fantastic and flexible solution for those who may be unable to buy a home on the open market. The scheme offers greater security than renting, and often requires a much lower deposit than would be needed on the open market.

"We know how important it is to help people put down roots and secure a home of their own. We are pleased to be offering shared ownership homes at this development, helping people do just that.”

Purchasing a Home Reach property grants the home buyer a lease. This can provide long-term security and allow the resident to decorate and transform their home with freedom, something that renting often restricts.

Further benefits of shared ownership through Home Reach include allowing pets in the property, as well as not being tied down by fixed-term contracts, meaning residents can sell their share and move property at any time.

Those who use Home Reach Shared Ownership can normally buy more shares of the home over time, also know as staircasing, until they own up to 100% of the home.

Located in the popular town of Waverley, the new community being built at Affinity offers semi-rural living with convenient city connections to Sheffield, Rotherham and Worksop.

Those interested in Home Reach Shared Ownership can find out the eligibility criteria here.

For more information about any developments in the area, visit the websites at Barratt Homes in South Yorkshire.