Retiree Thriving After Downsizing To Shared Ownership Home

Mary Patricia Grace, 79 (who goes by Pat), has now been in her new home at Bromford’s apartment living development, The Avenue, in Moreton-in-Marsh, for over a year, and could not be happier with her new living situation.

The retired emergency nurse practitioner is living in her second Bromford Shared Ownership home, after settling into her former property in Whittington for 19 years from 1997. Pat returned to the Cotswolds, where she originally moved to in 1980, last year after a brief period of living in Norfolk.

Shared Ownership gives first-time buyers and those who do not currently own a property the chance to secure a new build home with Bromford. Homebuyers pay a mortgage on the share they own, and pay rent on the remaining share, meaning only a smaller deposit is required. Purchasers can also increase their share during their time in the property.

Pat says: “I am so happy with the apartment – be it the size of the rooms, the living room-cum-kitchen, or the bedroom, everything about it is really excellent. Moving from a house into an apartment means there’s a lot less maintenance and cleaning, with the upkeep and the heating bills a lot lower which is a great benefit. With it being a new build home, I was attracted to it because now I don’t have any overheads like I would on an older property. I feel very lucky to have found an apartment like this in such a lovely area.”

Pat settled into her apartment very quickly, citing the community around her and the area she has moved into. She adds: “I love everything about the Cotswolds, the hills especially, and I have a wonderful neighbour next door. It’s nice seeing young children around, and the area is very well-maintained. I’m close to the town and have the added benefit of being on the ground floor with no steps.”

With her apartment being her second experience of Bromford Shared Ownership, Pat suggests that the scheme is a wonderful thing to do, urging younger people to consider the concept when looking for their first property.

On the benefits of Bromford Shared Ownership, Pat says: “I would certainly recommend the process to other people, especially for younger people who might not have enough for a deposit or a mortgage. This way, they have help in renting alongside a smaller mortgage. I think it’s a wonderful thing to do."

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