Local housebuilder Barratt Homes has launched its brand-new Home Reach scheme alongside partner heylo at its Aylesham Village development on Dorman Avenue North. Buyers need only a five per cent deposit the part buy – part rent scheme, to secure their first one or two-bedroom apartment.
The scheme aims to provide an alternative low cost route to allow more first-time buyers to get their foot onto the property ladder, helping tackle increasing loan to value mortgage requirements and stricter lending criteria.
Home Reach allows buyers to purchase up to a 75% share, depending on affordability, of a new home with a low five per cent deposit and pay a low monthly rent on the remaining share. Buyers can then purchase more shares through a process known as staircasing, and eventually own 100% of the home.
Research from Zoopla reveals that the average price for a property currently stands at £272,554 in Aylesham. The new apartments at Aylesham Village start from just £82,498 for a 50% share of a one-bedroom apartment, with an additional monthly rental payment of £189, providing affordable housing to the local market in Aylesham.
Natalie Perry, Sales and Marketing Director for Barratt Kent, comments: “First-time buyers in the South East have seen the cost of homeownership increase by more than £100,000 in the past 10 years, so we are proud to be able to put homeownership back in reach. Our partnership with heylo will allow us to combat rising affordability concerns and help first-time buyers get onto the property ladder in Aylesham. Home Reach is a real option for priced out homebuyers, and we look forward to growing the community at Aylesham Village in 2022.”
Aylesham Village is ideally situated between Canterbury and Dover, with the development home to a small number of shops, post office, leisure centre, health centre and supermarket. Excellent transport links include quick access to the A2 via A260 in six minutes as well as the M2 within 26 minutes. Aylesham itself offers a close-knit community made up of several churches, a library and two primary schools perfect for families: St Joseph’s Catholic Primary School and Aylesham Primary School. A free Kent Wildlife Trust family membership is offered to all purchasers at Aylesham Village to make the most of the Kent countryside.
Prices at Aylesham Village start from £82,498 for a 50% share in a one-bedroom apartment available through Home Reach, with an additional monthly rental payment of £189.
