Looking to move on from renting but haven’t considered the different home ownership options? Charlotte and Lee were in the same situation until they discovered the Shared Ownership Scheme.
After being made aware of the scheme by a friend and visiting an event in Trowbridge the couple found their perfect property at Radian Homes’ Riverdown Park development. “The property fitted our needs perfectly and was closer to work.”
Shared Ownership allows purchasers to buy a share in a home, and then pay a low cost rent on the remaining un-purchased share. With mortgages and deposits based on the purchased share value, buying a home couldn’t be more affordable.
The process of buying a property might seem daunting at first but there’s always an expert on hand to help. “We had a very good IFA who helped us throughout the process,” the couple said
Riverdown Park is set in the stunning Salisbury area offering spectacular views of the Wiltshire countryside. The couple love their new home, “We were surprised at the size! We have two large bedrooms, a nice bathroom, and the south facing garden is lovely.” Charlotte explained.
With a full market value of £230,000 they were able to purchase a 45% share for just £103,500. This meant they only needed to pay a deposit of £5,175 for the two bedroom property with monthly mortgage repayments of just over £450.
Once they reached the end of the process and got a hold of their keys Charlotte and Lee were ecstatic. “We couldn’t believe it,” They said, “We were so excited to have a home that was ours.”
When asked whether they had a favourite place near their new home, Lee said, “We often walk around Laverstock Downs or visit the local pub for a nice drink on a Friday evening.”
Now that they’re happily living in their new home what do their friends and family think? “They were really impressed with the size and location! Some of our friends are already looking into the scheme.”
Interested in living in Salisbury? Our Riverdown Park development still has six beautiful two bedroom houses available to buy with Shared Ownership!