‘Shared ownership is one of the best decisions I’ve made’ – our customer shares her experience

Four years ago, she was looking for a fresh start as the area she lived in wasn’t what it used to be and purchasing outright in her chosen area was unaffordable.

She explored everything from over-55s housing to static caravans and even barges – then someone mentioned shared ownership and she hasn’t looked back. Even though she owned her previous home, Sue was still able to move into a new build shared ownership home.

She now enjoys living in a countryside setting with her dog, Blossom, and loves visits from regular wildlife including muntjac deer, woodpeckers, foxes, and owls which she hadn’t encountered before.

Sue said: “Having been in my current home four years, I love it. Moving here is the best thing I’ve ever done.

“If I’m honest, it was stressful going through the process of buying a shared ownership home. Having never rented before and purchasing half of the property at the same time was a lot to get my head around. I found it difficult working with the solicitors as there were a lot of things I wish I had checked and had explained to me at the time.

‘Shared ownership was new to me, but worth it’

Sue added that she didn’t know what shared ownership was until it was suggested as an option to her.

She said: “I thought that I’d look into it, so I made a few enquiries and filled out a form to check my eligibility, and it came back saying that I had been accepted. This allowed me to look at properties under the shared ownership scheme, and I found my new build home in a rural setting – it was everything I’d wished for.”

Sue said her aim is to purchase more of her property over time, meaning she will pay a lower amount of rent on the part of her home she doesn’t own. 

Her advice to others interested in shared ownership is to thoroughly research what it is and understand the commitment. However she would encourage anyone who is eligible to buy a shared ownership home.

She added: “My advice to others thinking about shared ownership would be to do it – it was a lot of time and effort but make sure you research it and know what you’re going into. You need to make sure that you can afford to pay the rent you’d be paying and the mortgage on the part that you own.”

What is shared ownership?

Shared Ownership is a government-backed scheme designed to help people who cannot afford to buy a suitable home outright.

It’s often described as part-buy, part-rent:

• You buy a share of your home (usually between 10% and 75%)
• You pay rent to Citizen on the share you don’t own
• You’re an owner-occupier and hold a lease on the property

Many people choose Shared Ownership as a way to get onto the housing ladder, with the option to buy more shares in the future.

Our Executive Director of Development Nick Byrne said: “It's fantastic to hear how positive Sue’s experience of shared ownership has been and we love hearing how happy she feels in her home.

"We know that owning a home can feel out of reach for many people, which is why shared ownership plays such an important role in helping people take that first step towards home ownership.

"Stories like this show the difference shared ownership can make, giving people the opportunity to own a home that suits their needs while building a secure future for themselves and their families."

Find out more about shared ownership on our website.

Hear more from Sue in our video below: