SHARED OWNERSHIP £78,750 is for a 25% share purchase, the full property price is £315,000.
The minimum CASH DEPOSIT you will need is £78,750.
*Your Home eligibility criteria:
•Good credit history
•Income to support the unpurchased share
•Be a British or EU citizen or have indefinite rights to remain in the UK
•Must be your principle and only home at completion
Turn any freehold property into part buy –part rent with Leaders Estate Agents and ‘Your Home’. You simply need 25% cash deposit on the full purchase price, there’s no need for a mortgage and you can buy more or move at any time. Subject to status and certain criteria (please see below for more details), you can buy from 25% -75% and pay rent on the part you do not buy whilst being able to staircase over time to own 100% of the property.
Your Home is a part buy –part rent scheme available on freehold properties for sale with Leaders Estate Agents.
How Much Can I buy? How much of a property can I purchase?
You can buy between 25% and 75% of the property. Your cash deposit must be at least 25% of the property’s market value. You can buy a larger share with cash or a Shared Ownership Mortgage. After 12 months, you can buy more of your home through a process called staircasing.
How Does the Rent work
You’ll pay rent each month in advance on the share you don’t own. Rent starts at 5.89% per year of that share’s value and increases annually by 1% plus the Retail Price Index (RPI). If the RPI is zero or negative, rent still increases by 1%.
How much deposit do I need?
You’ll need a cash deposit of at least 25% of the property’s market value. Your deposit can be gifted by close family members. Once your offer is accepted, we’ll ask for proof of deposit. Up to four people can gift funds under our scheme.
Can I buy any property?
With Your Home, the property must be a freehold, traditionally build home in England that is at least one year old, previously occupied, and has an EPC rating of D or above.
A RICS Level 2 Home Buyer’s Report is required (paid for by the buyer) before exchange, and the valuation must not be below the agreed purchase price.
The property must not have serious safety issues or long-term damage risks (such as damp, mould, or subsidence).
How much does it cost to use the Your Home scheme?
You’ll need to cover the standard costs associated with buying a home, including solicitor fees, surveys, and any applicable Stamp Duty (SDLT).
In addition to this, Your Home charges a one-off product fee starting from £2,000, depending on the property value and the share you are purchasing. This reflects the proportion of the total acquisition costs that Heylo incurs when buying the property on your behalf.
This fee covers the application process, conveyancing searches (Local Authority, Environmental, Drainage, and Water), as well as our solicitor’s fees.
Are there ongoing costs to pay in addition to rent?
Yes. Alongside your rent, you’ll pay a monthly management fee of less than £30 and buildings insurance.
How do Your Home complete their credit checks?
When you first apply, we’ll carry out a soft credit check to look for any issues that don’t meet our credit criteria.
Once you’ve found a property, we’ll complete a hard credit check as part of the final approval process.
If I have bad credit, can I still apply?
You’ll need to meet our credit criteria to proceed.
If there are two applicants, we’ll review both credit files.
In some exceptional circumstances — such as serious life events beyond your control — we may consider an appeal, supported by relevant documentation for our Credit Risk team to review.
A well-presented terraced home, tucked away in a modern cul-de-sac, built by Barratt Homes in 2018, located within the ever-popular West Town area. Benefitting from the remainder of the NHBC warranty, the property is offered in excellent condition throughout.
To the front, one allocated parking space along with an EV charging point. The accommodation comprises a modern fitted kitchen, a bright and comfortable living room, and a convenient cloakroom on the ground floor. Upstairs, there are two bedrooms, with the principal bedroom enjoying an en-suite, alongside a contemporary family bathroom.
Externally, the rear garden is privately enclosed, mainly laid to lawn, and includes a garden shed—ideal for storage.
The development is managed by Remus, with estate charges of approximately £228 per annum, payable half yearly.
West Town itself provides a range of convenient local shops, cafés, restaurants, and takeaways, as well as a Tesco and pharmacy all within half a mile. Hayling Golf Club—ranked among the top 50 in England—is less than a 15-minute walk away. Gable Head, approximately one mile from the property, offers additional shopping facilities including the island’s largest supermarket. A variety of welcoming local pubs can also be found nearby, completing the appeal of this well-situated home.
Agent Notes: Successful buyers will be required to complete online identity checks provided by Lifetime Legal. The cost of these checks is £96 inc. VAT per purchase which is paid in advance, directly to Lifetime Legal. This charge verifies your identity in line with our obligations as agreed with HMRC and includes mover protection.
Council Tax Band C
