For many, the dream of owning a home often feels out of reach, especially with rising house prices and the financial burden of saving a substantial deposit. Despite these challenges, Plumlife has been able to support thousands of customers who are now proud homeowners thanks to Shared Ownership.
It has helped customers such as Abbie, who was struggling to save enough to buy a home on the open market while renting her two bedroom apartment. She said, “I was saving for a deposit for quite a while, but it just felt like I was never going to reach that. It felt like an endless cycle of saving.” But Abbie remained determined to find a solution, which is when she came across Shared Ownership, which stood out as a practical and positive option.
She added, “The main reason I chose Shared Ownership was the financial aspect of it. The deposit was lower, the mortgage was lower, and the rent for the remaining share was also lower. It allowed me to afford the type of home I actually wanted to live in.” Now settled into her new home at Francis Place in Walkden, Abbie couldn’t be happier with her decision.
And for mum-of-two Fiona, she found her perfect home at Calico Grove in Rochdale. Fiona’s journey began in a modest flat, that had once been just enough for her and her twins. When they first moved in, her children were just two years old, but as they grew, so did their need for space. She knew it was time for a change, but buying a home on the open market felt like an unattainable goal, as it does to many of us!
But when she discovered Plumlife, everything changed. Fiona had never heard of Shared Ownership, but once she learnt that it required a lower deposit and made homeownership more affordable, she felt a renewed sense of hope.
The affordability of Shared Ownership was a game changer for Fiona. Due to the lower deposit requirements than those required with a traditional mortgage, it meant she was able to buy a home that had everything she had ever dreamed of – a spacious layout, a beautiful back garden, and more importantly, separate bedrooms for her twins.
Now, Fiona is a passionate advocate for Shared Ownership. She said, “I would recommend it to anybody and everybody. In fact, I actually do!”
For many of our customers, stepping on to the property ladder is just the start of their journey. Take Dania, who initially bought a 50% share in her home, as this was the option that was affordable for her. Dania bought her home with the intention of one day buying the remaining shares through a process called staircasing. It didn’t take long for her to turn that dream into a reality, as two years later, she bought the remaining 50% share of her home.
We have countless examples of people who thought that the idea of homeownership felt impossible, until it actually became a reality.
Whether you’re a single professional, a growing family, or someone re-entering the housing market, Shared Ownership offers an affordable and sustainable path to homeownership.
Visit plumlife.co.uk to explore available homes, understand more about how Shared Ownership works, calculate your affordability, and turn your dream of owning a new home into a reality
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
