“I saw the ad, made a note of the website and took a look at what was on offer. The Shared Ownership scheme seemed to suit my family’s situation best so I registered online with HomesinHants,” explains Cheryl.


Cheryl, a teacher from Portsmouth, found saving for the large deposit required for an open market purchase very difficult whilst paying a private rent.


“We learnt that the deposit needed for a purchase with shared ownership is only 5 or 10%, and even that is based on the value of the share you purchase, not the full market value! It meant getting together the deposit we needed was far more achievable,” says Cheryl.


Once registered with HomesinHants, Cheryl and her twin sons William and James, 12, were sent information on properties in the post and on email. That’s when they found out about Alliance House, St Marys Road in Portsmouth, being offered on a shared ownership basis from local housing association, Radian.


“We all loved the flat straight away! It’s so light and airy, and we love having the balcony. The bedrooms are huge too with plenty of storage. Radian arranged for us to have a financial assessment to make sure it was affordable for us, and it all went on from there!” explains Cheryl.


Cheryl purchased a 40% share in the apartment for £47,200, requiring just £2,360 for her mortgage deposit. She now pays just over £500 per month to own her own family home; £100 cheaper than her previous private rent.


“It was frightening at first to buy a home, but we have no regrets about our move; everyone involved was very helpful and we feel extremely lucky. We’re really proud of our new home and the whole process was very quick. I’d recommend Shared Ownership to anyone in a similar situation.”


HomesinHants Roundup - Spring Issue 7


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