Karen found security with Shared Ownership following a separation. Karen shared a home with her ex-partner and was looking for a new place to call home and found that Shared Ownership was her way to purchase a new build property.
Shared Ownership allows purchasers to buy a share in a home, and then pay a low cost rent on the remaining un-purchased share. This means that mortgages and deposits will be based on the purchased share value meaning buying a home couldn’t be more affordable.
Karen googled the scheme and came across Radian Homes’ Riverdown Park development. “I needed to be close to my ex as we have a four year old. I also work full time in Salisbury”, she explained, meaning that the location of these homes were ideal.
Karen really liked the surrounding area too, “The Laverstock Downs are a favourite place to walk. The Wood ford Valley is a great place to cycle. The local park has a good play area and a great green space for recreation. There is a Rainbow group in the neighbourhood too!” She explained.
The process that Karen went through to purchase her home was a godsend for her and her little girl, “Radian staff were very helpful, especially as I was a first time buyer with no experience at all”, she explained, “my situation made me need quite a lot of support and reassurance – I felt I was able to ask for help when I needed it.”
When Karen got the keys to her new home she had mixed emotions, “The separation has been tough, but for the first time in a long time I feel very at home in my new home. It is a lovely space, and I love spending time here”
“I particularly love the garden – the perfect size, including a shed and water-butt – I hadn’t even thought about this, let alone expected it to be ready in the garden the day I moved in!” she laughed.
Karen’s friends and family thought that her new home was perfect for her and that Shared Ownership was incredibly helpful.
“Now I am independent and in control of my own asset and I am working hard to secure more”, Karen concluded “I will continue to recommend the scheme to others”.
Thanks to Shared Ownership, Karen was able to purchase her £230,000 property for the 35% share of £80,500 with monthly outgoings of £429.05. This meant that she only needed a deposit of £4,025.
Karen and her daughter finally have a place to call home and so could you! You could find a home with Radian Homes too, click here to find out what we have available.