Heylo Homes’ innovative product, Your Home, has seen the number of transactions in 2022/23 almost treble year-on-year.
The part buy, part rent scheme has recorded 130 properties purchased throughout the year.
The biggest increase in purchases was seen in areas where estate agent partnerships have rapidly developed, including the Isle of Wight, West Sussex and Lancashire – with some areas seeing more than 10X the sales in just 12 months.
Your Home turns freehold properties for sale on the open market in England into part buy, part rent homes, offering flexibility and choice to hopeful homeowners searching for the ideal place.
Agnieszka Skowronek, head of Your Home commented: “The relationships we’ve developed with a number of key agents across the UK have made a significant difference over the past 12 months, helping even more people learn about Your Home and how it could help them buy their dream home.”
“When you look at the areas where we’ve seen the highest increase in sales, it coincides with where those strong relationships lie. We’re very lucky to work with such a great range of estate agents and look forward to expanding our reach across the UK even further.”
Buying the home in partnership with Your Home, buyers will put down a minimum of 25% deposit of the home’s full value, and pay rent to Your Home on the remaining share. This is often more affordable and cheaper than both renting on the private market and buying with a traditional mortgage.
Your Home customers will have their rent capped at 4.89% for the first year, then increasing by RPI + 0.5% every year. As there is no interest on the rent paid, the scheme is certified as Sharia-compliant by the Islamic Council of Europe. The team was recently shortlisted for two categories at the Islam Channel Business Awards 2024. Celebrating companies that inspire and motivate others within British Muslim communities, the awards are highly competitive and saw over 1000 business people attend, alongside Members of Parliament.
Offering security to homeowners, Your Home offers a 999-year lease, and as and when buyers can afford to do so, they can purchase additional shares through staircasing – eventually owning 100% of the property and the freehold.
The post Heylo Homes’ part buy, part rent scheme sees sales treble appeared first on Showhouse.
Source link
