About Homer Road

This new development containing 1, and 2 bedroom apartments and a 3-bedroom house could be perfect for you. In a sought after location and available on a part-buy part-rent basis, Homer Road is the place you’ve been dreaming about.

These homes are offered on a New Build Home Buy (part-buy part-rent) basis. It is a Government-funded initiative that helps first time buyers onto the property ladder.

Homes are sold as leasehold properties on shared ownership terms and you can purchase between 35% and 75%.You will need to be able raise a mortgage for the percentage you want to purchase and subsidised rent is payable on the remaining share. You can buy additional shares in the property until you own it outright. You will also pay a service charge.

When you want to sell the property you either sell the share you own to a purchaser nominated by Peabody, or if you own the property outright (100%), sell it on the open market. If you own 100%, Peabody would have the right of refusal if you sell within the first 21 years of the lease.