Shared Ownership helps Karl start over in Hertford after troubled times

After moving out of the family home following the breakdown of his marriage, Karl Walsh (42) had to couch surf and stay with friends until he purchased a two-bedroom apartment at Network Homes’ Hartham Place development in Hertford.

Located on the River Lea, Hartham Place comprises nine shared ownership apartments with integrated kitchens, sleek bathrooms and an intelligent use of light and space.

Hertford is the county town of Hertfordshire, with charming local amenities and green spaces, yet within commuting distance of London. Hertford East station is only a five minute walk away from Hartham Place, providing access to London in under an hour (Liverpool Street takes 52 minutes).

Karl, a charge nurse, bought a 50% share of the apartment worth £142,500 (full market value £285,000) with a deposit of £55,000 raised from the sale of his former marital home. His monthly rent is £409 and his mortgage payments are £329.

Having only recently moved out of his former home, Karl had to ‘jump through a few hoops’ to prove that he would no longer be a homeowner, a hurdle that affects many recently separated homeowners looking for a fresh start.

Karl comments: “There were a lot of checks to make sure that I wasn’t going to use the new apartment as a second home.  It was time-consuming but I think the checks are necessary to make sure that those who need it most, benefit from the Shared Ownership scheme.”

Karl is delighted with his new home as it means he can remain in the same area, close to his children, despite downsizing from a house to an apartment.

“The apartment is quite spacious, my two children live with me at the property half of the week so it was very important to have a second bedroom. The balcony – which overlooks the River Lea – more than makes up for not having a garden,” he says, while “there are also parks nearby to take the children.”

Starting afresh had its challenges but it was easier in a newly built home.  Karl comments: “It felt strange at first as I had to buy new furniture and basic items like pots and pans. However, as it’s a newly built apartment, I didn’t feel the need to decorate, as the property is finished to such a high standard. What I have done is put up some wall art, photos of my children, some posters - just making it feel like mine.”

Karl has already made friends with his neighbours at the scheme and says that the move has brought stability to his life.

"Buying through shared ownership at Hartham Place has given me the opportunity to spend as much time as possible with my children. I would absolutely recommend it, especially to people in my position, as well as first time buyers. It has provided me with an opportunity to live in an area I otherwise wouldn’t be able to afford, as I definitely would not be able to purchase outright.”

Hartham Place is now all sold out but Network Homes is selling properties at other schemes in Hertforshire, including The Crescent - a contemporary collection of three bedroom townhouses available for shared ownership. Visit Network Homes Page to find out.