Home Reach


Luna Group is working in partnership with heylo to offer Home Reach, a part-buy-part-rent option on selected apartments at Luna, St. James, Brentwood.

heylo launched in September 2014 and has now created one of the largest home ownership programmes in the UK.

Home Reach… a more affordable way to buy.

Smaller deposit requirements and lower monthly payments make it easier to buy a home. Decide on how much to buy, with shares up to 75% to be able to purchase a share with either cash or savings or by taking out a mortgage. If taking out a mortgage to finance the Home Reach share, then typically at least a 5% deposit is needed. The larger the deposit the lower the mortgage payments.

On the share that isn’t owned, you will pay annual rent of 2.75% of the unsold value. This will be paid by monthly direct debit. For example:

PROPERTY VALUE£350,00£400,00£450,000
50% Share Value£175,000£200,000£225,000
10% Deposit£17,500£20,000£22,500
Mortgage (3.5% interest rate)£157,500£180,000£202,500
Monthly Mortgage Payments£830.47£949.11£1067.75
Monthly Rent£401.04£458.33£515.63
Monthly Combined Cost£1276.52£1452.45£1628.38
Indicative Income Requirement£46,001£52,340£58,680

Source: heylo housing – Jan 2018

These figures are an illustrated costing only and for exact costings you should speak to an independent financial advisor. Figures above are based on a 25 year repayment mortgage and a Home Reach lease with an initial rent of 2.75% on the unpurchased property value increasing by RPI + 0.5% each year. Your home may be repossessed if you do not keep up with payments on your mortgage or shared ownership lease. Additional service charges may be payable on properties with communal facilities or services. You will also need to consider the responsibilities and associated costs involved with owning a home (such as insurance and maintenance).


To be eligible to purchase a Home Reach property in England or Wales each application must have the following:

  • The household income must not exceed £80,000 per annum for homes outside of London
  • A deposit of at least 5% of the share value in cash or savings
  • First-time buyer or used to own a home, but cannot afford to buy outright now
  • The property will be the principle and only home
  • Passed a financial assessment, demonstrating financial viability to purchase the minimum share value and support the monthly costs


  • An affordable way to get on the housing ladder
  • Provides the security of home ownership
  • Flexibility to sell and move at any time
  • Ability to increase the level of ownership at any time
  • Freedom to decorate and improve your home
  • Benefit from any increase in property prices

Buying a Home Reach property, step-by-step

with your local Help to Buy Agent. You are able to register for a general area or a specific housing development.

you will need to complete a financial affordability assessment. This is to ensure you can afford to purchase and maintain the monthly costs.

once you know your affordability, you are able to choose the home you wish to purchase. The share you can afford to purchase will be calculated for you.

now you need to pay a reservation fee to the sales team to secure your home. Luna Group Ventures will then take you through the next steps of your purchase, with 28 days to exchange.

you will need to apply for a mortgage (if you need one) The sales team will guide you to the appropriate specialist.

you will need to appoint a solicitor to carry out the legal work for you and act in your best interest.

this is when you pay your deposit, sign your contracts and agree a moving-in date.

on the agreed completion day, you will be able to collect the keys, move in and…enjoy your new home!


The lease sets out:

  • A description of the property including its boundaries and a guide to which parts are your responsibility – if a leasehold property, it will also contain any restrictions or obligations flowing from the superior leasehold title, such as the payment of ground rent
  • The start date of the lease and the share that you have bought
  • The amount of rent that you must pay, together with other amounts due under the lease
  • The rent increase, linked to Retail Price Index plus 0.5% each year
  • Your responsibilities as a leaseholder, such as all repairs and maintenance of the property and those of heylo as landlord under the lease, such as building insurance arrangements
  • The method by which you can purchase additional shares to own more of your home in the future
  • The method by which you can move home, either by selling your share or selling the whole property

What are your rights and responsibilities:

  • You are responsible for all utilities bills, repairs and redecoration of your property. It’s your place, your space – so make it your own! The only exception would be if you wanted to make any structural changes. For this you would need to apply in writing to heylo outlining the changes you would like to make. heylo will review the application and will be in touch with a decision or requesting more information.