Sanctuary Homes is proud to be supporting Shared Ownership Week 2019, helping to raise the profile of the scheme, which offers an affordable way to buy your own home.

We’re committed to helping people find their perfect home, and believe Shared Ownership is a great option for anyone looking to get a foot on the property ladder, but who may not have thought they would be able to buy their own property.

What does shared ownership mean?

Shared Ownership is becoming an increasingly popular option among buyers because of its clear advantages in terms of affordability and flexibility compared to buying on the open market. Buyers purchase a share of the value of the home for sale, usually 25 to 75 per cent – and pay a subsidised rent on the remaining portion. Then, as and when they can afford to, buyers can increase the share they own in the property, known as staircasing, and can even work up to buying their home outright.

Is shared ownership right for me?

Alongside the obvious benefits of affordability and flexibility, we know Shared Ownership really works from our conversations with our buyers and the feedback they offer about the scheme.

Our teams around the country tell us that the very best part of their job is hearing from satisfied customers who have realised their dream of getting on the property ladder through Shared Ownership.

Everyone’s circumstances are individual to them, but the success stories we hear share common themes; people who thought getting on the property ladder was an ‘unattainable dream’, those who thought they would be renting or living with their parents for years to come and those who never thought they would be able to live in the neighbourhoods or properties that Shared Ownership makes possible.

These stories also highlight the breadth of different people that Shared Ownership can work for and help to realise their dreams.

People like first-time buyer Cristina, who was looking for an affordable apartment within easy reach of her work in central London and found the ideal solution with a two-bedroom flat at our Quadrangle development in the vibrant borough of Hornsey.

She told us: “If it hadn’t been for Shared Ownership, I wouldn’t have been able to consider buying on my own for another few years.

“It’s incredible that I’ve become a homeowner before turning 30 after not that long in London, which has only been possible due to Shared Ownership.”

Elizabeth and Michael, meanwhile, have just taken the keys to their dream home at our brand new Three Acres development, in the picturesque Essex village of Canewdon.

The couple, both avid walkers who have dreamed of living in the country, say their new two-bedroom property is “the perfect fit”.

“If it wasn't for Shared Ownership we would either still be living with my parents or be forced to choose a rental property, as it now takes so much more longer to save for a decent deposit on a house,” they explain.

“This property gives us exactly what we are looking for. It’s not only in a beautiful location, but we also now have the room to start building our own little family.”

Another message that our buyers frequently share with us is “we didn’t know how affordable Shared Ownership could be”.

This is where campaigns like Shared Ownership Week can play a vital role in helping spread the word and inspire more people to think about Shared Ownership and whether it could work for them.

Shared Ownership is designed to be as accessible as possible and to help people take that first step onto the property ladder. At Sanctuary Homes, we offer Shared Ownership houses and apartments suitable for all needs in a range of fantastic developments right across the country.

If you feel that owning your own home is out of reach, why not look into Shared Ownership, to see how it could enable you to buy your first property. Like many of our buyers, you might be surprised at just how affordable it can be.

If you are looking for Shared Ownership in London, why not come along to our Shared Ownership surgery event at our Quadrangle development in Hornsey. Our sales advisors will be on hand to answer any questions you might have about Shared Ownership and will help you to work out what percentage share would be affordable for you.

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