Lydia makes a move with Shared Ownership
Lydia makes a move onto the property ladder with Shared Ownership
Meet Lydia, a therapist and intuitive eating coach from Warwickshire who purchased a brand-new home at Flying Fields in March this year with the help of Shared Ownership.
She was living with her parents and saving for a deposit when she heard about Shared Ownership from a friend who told her how they had got onto the property ladder using the scheme.
Although she was working, Lydia found that she was unable to get a mortgage for the type of home she wanted, as house prices were out of her reach as a single buyer, making Shared Ownership the ideal option for her.
Shared Ownership allows you to buy a share of a new build home and pay a subsidised rent on the share you don’t buy. You need a smaller mortgage to buy your share, and a smaller deposit than if you were buying 100%, making it a more affordable way to get onto the property ladder. You also have the option to buy further shares in the future.
Lydia chose Flying Fields in Southam, as she already had friends living in the area and she loved the location, being near to the countryside.
Overall, she found the home buying process straightforward, with the Orbit Homes sales team on hand to answer her questions and she was really pleased with the service she received.
Lydia loves her new home and so do her friends and family; “Everyone who has visited has commented on how light and airy the rooms are and how spacious it feels”.
She is so happy to have discovered Shared Ownership as a way to buy her new home: “I have told so many friends that Shared Ownership is a great way to get onto the property ladder if they are buying on their own”.
New 2 and 3-bedroom homes have now been released at Flying Fields – you can find out more at: https://www.orbithomes.org.uk/flying-fields/