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case study
First time buyer puts down roots after renting in five different addresses over five years
Kathy Schroeder moved to the UK five years ago and has, in that time, lived at five different London addresses. During her last move, she realised that the money she was spending on rent could be used more sensibly to purchase her own property. She took advantage of Family Mosaic's shared ownership scheme and now has a home of her own with no more moving in sight at New Festival Quarter, E14.
Shared Ownership Week: Case study – Steve
Family Mosaic helps many aspiring homeowners get on the property market with its shared ownership schemes before the average age of 35 for a first-time buyer. Steve Tolan is one of those who managed to take his first step on the ladder a few years before the average age. At 32, Steve was delighted to find that he could purchase a larger apartment in a popular location with the help of Family Mosaic's shared ownership scheme.
Shared Ownership Week: Case study – Jo
Jo was renting a place with four friends when two of them decided to take the plunge and buy a property through shared ownership. With the rental arrangement inevitably changing as a result, Jo also resolved to take the plunge into homeownership and started looking for a flat to purchase.
Shared Ownership Week: Case study – Phillip
It took just two months for teacher Phillip Minnaar to purchase his brand new apartment in Cricklewood with a shared ownership deal through Octavia Living.
Phillip had believed at with house prices so high and mortgage companies demanding such large deposits, that he would be renting forever. A colleague suggested to him that he should enquire about purchasing a share of a new-build apartment at Parkside Court, where he could start by buying just as much as he could afford.
Shared Ownership Week: Case study – Kerry
At the age of 26, Kerry Bhanvra had spent most of her life in the sought-after village of Appleton Roebuck, North Yorkshire, living with her parents. Much of the village is a designated Conservation Area, with numerous 18th- and 19th-century buildings, and properties rarely come up for sale on the market.
Though she was keen to get a foot on the property ladder herself, the freelance graphic designer was unable to afford to buy a property in the village on the open market due to the large deposit she would need to put down.
Shared Ownership Week: Case study – Foule
When Foule Diaby and her partner Moussa decided that they need more room than their rented property in Southwark gave them, they turned to shared ownership to secure a large new-build apartment in a nearby development from affordable housing providers L&Q.
Shared Ownership Week: Case study – Natalie
Living at home with her parents, paediatric nurse Natalie Greenhow believed that owning her own apartment was well beyond her means until she found out about shared ownership, a way of purchasing an affordable proportion of a brand new home that doesn't require the buyer to find a huge deposit or enormous mortgage.
Shared Ownership Week: Case study – Ben and Dorothy
A shared ownership purchase was the ideal option for young couple Ben Porter and Dorothy Langley, who had been renting together for two years and dreamed of a property of their own in Cranleigh, Ben's home town and just a few miles from Guildford, where Dorothy comes from.
Shared Ownership Week: Case study – Meet the Osborns
Sharon Osborn's description of what it feels like to have a stake in her own home sums up the great feeling it has given her and her family, since they moved into a brand new home in Wolverhampton on a shared ownership deal.