Family gets on the housing ladder thanks to Shared Ownership

Posted 14 March 2016 by Helen Christie

When single mum Sian discovered the new houses being built at Chapel Mews would be available through Shared Ownership, she decided to pay them a visit.

For Sian, finding a family home in her home town of Hilmarton was very important in securing a future for her two daughters. The charming Wiltshire village has a close community, where Sian wanted her children to grow up. 

The 40-year-old veterinary nurse comments: “I grew up in Hilmarton, and apart from a few years in nearby Swindon, I’ve lived here my whole life. I really wanted my daughters to go to the local school and be near my mum - in fact when I first moved back I rented a cottage next door!

“Now my girls are getting older, I wanted to have a bit more financial security for them. I hadn’t considered buying before, especially in the village, as I never thought I could afford to. When my friend told me about shared ownership, and that the new houses we’d seen being built in the village were available with the scheme, I decided to look into it.”

Speaking of Shared Ownership, Sian says: “To my surprise I was able to afford the mortgage on a three-bedroom house, which is lovely because it means both Lauren and Abi get their own bedrooms. I bought a 40% share in the property, and my monthly payments are really affordable – the same as I was paying on just rent for our little cottage! It’s nice to have some financial security in property, as it’s a stable market to invest in. Also, having a smaller mortgage means I’ll be able to pay it off sooner, and  meaning I’ll have more disposable income in time for the girls going to university.”

She continues: “Even better, because the house is a new build, it’s a lot more eco-friendly than our cold and draughty 75-year-old rented cottage. Our monthly energy bills are much cheaper, so I’m already saving money.”

Sian is so pleased with her new home at Chapel Mews, built by Guinness Homes, as are her daughters: “We are really enjoying the space – it’s a real luxury to have an open plan kitchen and dining room – our dinners have become a social occasion. The girls will sit and chat with me while I make dinner, and we’re able to eat together as a family. It’s brought us closer together.”

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