If you’re thinking about shared ownership, don’t hesitate!
That’s the advice from Gerard and Jennifer Birbeck (along with their adorable dog Poppy) after they recently moved into their stunning new home in Wincham.
Gerald and Jennifer are one on of the first people to move into the Fryers development – our first ever homes built for shared ownership.
“We have been here since early September and we absolutely love it. We have settled in quickly and we love the area,” Gerald said.
“The quality of our home is really good. We had been looking to move for a while and we came across the Fryers development online. It wasn’t working out for us at our previous place and The Fryers seemed like the ideal place for us.
“We couldn’t be happier with the location – there’s a little shop just up the road and we are only a short car journey away from Northwich. All of our neighbours are friendly and they have made us feel welcome.
Gerald ad Maureen are no strangers to Shared Ownership – having bought a ‘share’ at their previous home in Lockstock Grantham.
Shared Ownership’ is when you part own and part rent your home. Typically a purchaser will buy a ‘share’ between 50% and 75% of the full market value of a property and pay rent to the owner of the remaining ‘share’, in this case, us.
It is an affordable way to buy a home for many people as it means you require a smaller mortgage and deposit. You must buy the largest share that you can afford, up to a maximum of 75% initially and can buy more shares when you can afford to.
And Gerald is encouraging more people to look at this option when it comes to getting on the property ladder.
Gerald added: “Whether you are young or a little bit older like us – shared ownership is the way to go. You don’t have to buy the house outright – you just pay a share and that had made things really affordable for us.
“Go for it, don’t hesitate - as long as you keep paying your rent and other charges, it’s perfect. We have done it twice now and it has worked for us.”
We are aiming to build a minimum of 200 new homes by 2020 – covering everything from shared ownership to affordable rent.
Watch this space for further news when more properties become available.