Shared Ownership Helps Family In Whiteley
Posted 13 September 2023 by
Helen ChristieAs a part-time nursery nurse with a young daughter, Megan McNamara knew that even with her partner’s wage working as a floor-layer, rising house prices meant they’d be unable to purchase their own home any time soon.
Shared Ownership became an increasingly attractive option to them, so Megan, 26, and her partner James Huggitt, 29, began looking online every day until the perfect opportunity presented itself.
Megan says: “James and I realised that buying a home using a traditional method would be out of the question for many years, as it is for so many young families. My friend mentioned Shared Ownership to me and, after a lot of research, I knew that this would be the ideal way for us to get onto the property ladder.We looked online every day until the perfect home came along. It was a three-bedroom property at St Arthur Homes’ Whiteley Meadows development in Whiteley, which just looked like it could be the one for us.
“With some savings and help from family, we managed to put together a deposit and buy a 45% share of the property, paying rent on the other percentage. We are looking to embark on a process called ‘staircasing’ which means we purchase more and more of the value of the home over time, eventually owning 100% of it. I didn’t have a huge tick list of things I wanted from a home – I just wanted to buy my own. But all the things we did want, like an en-suite, a garden, a garage and three bedrooms, were all there in the property we eventually bought.”
In December last year, Megan, James and their four-year-old daughter Ella finally managed to move into their home, where they’ve been enjoying life ever since.
Megan says: “I’d certainly recommend St Arthur Homes. Their sales advisor Trin is always so helpful and replies to any emails immediately. And, like any new property, there was a snagging list, but any issues were sorted out quickly.”
There are only three Shared Ownership properties left on this phase of Whiteley Meadows, so people who may be interested in buying are encouraged to act quickly to avoid missing out.
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