Shared ownership helps teacher find dream home

Shared ownership is an affordable way to buy a home of your own. NCHA's customers have written about their experiences in a series of case studies, to explain what shared ownership has done for them.

A young, newly qualified teacher in Derbyshire has secured her first home thanks to shared ownership.

For single Morgause, her two bedroom shared ownership house at our Derwent Street development wasn’t just about getting onto the property ladder, it also meant securing a place to call home in an otherwise unaffordable area of rural Derbyshire.

Prior to her move, she was renting but knew it was time to get on the property ladder and secure her future. However, property prices in Derbyshire on the open market had proved beyond her reach.

“I grew up in Buxton and I am obsessed with Derbyshire so knew I wanted to settle in the area. House prices are always rising, making it difficult for first-time buyers like me.

“I couldn’t find many developments like this when I was looking, but I knew this was perfect for me. You’ve got everything you could need in walking distance and I have easy access to the countryside.”

“When I discovered this development in Belper I just knew I had to find out more about shared ownership. I didn’t know anything about it, but with research and guidance from NCHA I soon realised the scheme was ideal for my circumstances.”

Morgause registered her interest in Derwent Street with our sales team and contacted Key Mortgages from our panel of mortgage advisors to ensure her monthly repayments were affordable. After completing her financial assessment, she met with Sandra our Sales Negotiator to view the development and see inside a completed property.

Once she’d picked her dream home ‘off plan’, preparations were made to get the sales process underway.

Now happily settled in, Morgause expressed her satisfaction with her new home, stating, "I couldn’t be happier! The house is built to a high standard and is spacious with ample storage. I live in a terraced house, and the soundproofing is amazing, I can't hear my neighbours, even though they have young children!"

She added, "The property stays lovely and warm, and my household bills are noticeably lower. I'm considering purchasing additional shares in the future to pay off my mortgage by the time I'm 40."

Morgause wholeheartedly recommends shared ownership, saying, "The process was very straightforward. If you're thinking about stepping onto the property ladder and have a stable income, go for it!"