Shared Ownership helps family onto the property ladder

Gemma Crellin Case Study Pic.jpg

First time buyers Gemma and John first heard about Shared Ownership after Gemma’s cousin bought her home using the scheme. Now the couple, along with their 2-year-old son Mason, live just a few doors down from her cousin after using the scheme to purchase a home of their own on the same development.

Gemma, 29, from Liverpool explains, “My cousin explained all about Shared Ownership when she was buying her house and I knew it would be ideal for the situation we were in. We’d moved back in with my parents and had been saving for a place of our own for about 18 months, so I knew being able to purchase a share in a home meant we could have our own space at an affordable price.”

Shared Ownership allows you to buy a share in a new home, ranging from 25% to 75%, depending on what you can afford. A housing association owns the remaining share, and you pay a reduced rent on this share. This means that you need to get a smaller mortgage to buy the property, and will also need a smaller deposit.

So once they were in a position to buy Gemma started looking with some specific criteria - it had to be Shared Ownership and it had to be in Kirkby - so Plus Dane Housing’s Quarry Brook development was perfect.

Gemma reveals, “This was the first house I saw when I started looking and I knew it would be ours. I love everything about it, I always thought new-build homes were tiny, but this isn’t small at all, there’s plenty of room and the two bedrooms are huge. And because it’s a new-build everything is under warranty which is great.”

The couple and their son moved into their new home in July, just 8 weeks after applying, and are now enjoying life as homeowners.

Gemma says, “The process was really easy and very quick, just 8 weeks from start to finish! We’re made up with our new home, it’s so nice to have our own space after living with my Mum and it’s lovely that Mason now has his own room. We’re surrounded by a really nice group of people too who have all been really welcoming and have helped us settle in.”

Gemma and John purchased a 25% share in their property and now pay just £161 rent and £93 mortgage for their two-bed semi-detached house.

Gemma adds, “Anyone who is in the same financial situation as us and feel like they can’t get on the property ladder should know that they can, and in an affordable way.  Look into your options and don’t write off owning your own home, with Shared Ownership it’s achievable!”

If Gemma and John have inspired you to find out more about Shared Ownership you can contact us on 0300 790 0570 or email info@helptobuynw.org.uk