Heylo is a private limited company and has acquired over 500 shared ownership properties across 25 local authorities since it was launched in 2014. In the summer of 2015, Heylo and Bellway agreed a contract under Heylo’s Home Reach model to deliver 1,000 new shared ownership homes over a three-year period.

Under the ‘Home Reach’ contract, the developer will build and sell initial shares of new shared ownership homes, simultaneously selling the unsold equity to Heylo at a pre-agreed price. This delivers 70% to 90% of the full open market value of the new home to the developer, depending on the size of the initial share purchase.

The Heylo/Bellway deal is the first of its kind, but Heylo expects to agree a series of similar contracts with national and regional housebuilders.