Posted: 30 Apr 2018
#New Home #First Time Buyer Find out how owning a Shared Ownership home saved Michela money
Shared Ownership offers first time buyers the chance to take their first step onto the property ladder.
32-year-old Michela Forconi recently purchased her first home at The Wren, using Shared Ownership. For Michela, buying a Shared Ownership property was a no brainer as it left her with more disposable income at the end of the month; “I used to pay more when I was renting”.
Michela also found that buying a Shared Ownership home at The Wren meant she was able to afford a home in London, something which she didn’t think would be possible; “Although I had some savings, I initially thought that it would be impossible (to purchase a home) in London. However, when exploring the options available to me, I found the Shared Ownership scheme through Southern Home Ownership and knew it would be the perfect solution”.
Overall, Michela is very happy with her Shared Ownership purchase: “If it wasn’t for the scheme, I wouldn’t have been able to afford to buy. I can honestly say that using the Shared Ownership scheme has been the best decision of my life.”
With Shared Ownership, you can buy a share of a property – from 25% to 75% of the full market value. The rest of the property value is covered by a subsidised rent. The combined mortgage and subsidised rent typically works out cheaper than renting privately; as in Michela’s case. Crucially, a deposit is also only required for the share purchased.
Are you looking for a modern home in Oval, SW9?
Southern Home Ownership is proud to present
The Wren Building, an impressive selection of one and two bedroom apartments, available on a Shared Ownership basis.
Situated close to Central London and conveniently located a short walk away from a number of stations, The Wren Building features stunning views, top spec appliances and state of the art facilities. For more information,
please contact us here.