Agents across the UK have helped Your Home by Heylo Housing treble the number of transactions it completed last year with over 130 properties purchased through its part buy – part rent scheme.
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 10 times the sales in just 12 months.
Your Home acts as a cash buyer and provides a £500 referral fee for every introduction that becomes a completion.
It then turns freehold properties into part buy – part rent homes.
KEY AGENTS
Agnieszka Skowronek, Your HomeAgnieszka Skowronek, Head of Your Home, says: “The relationships we’ve developed with a number of key agents across the UK has 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.”
She adds: “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.”
With Your Home, buyers put down a minimum of 25% deposit of the home’s full value and pay rent to Your Home on the remaining share, capped at 4.89% for the first year, then increasing by RPI + 0.5% every year.
For example, on a home with a property value of £250,000 a 25% deposit would equate to a £62,500 mortgage and monthly rent on the 75% unowned share would be £764.06.
And as there is no interest on the rent paid, the scheme is certified as Sharia compliant by the Islamic Council of Europe.
