Maria and Ricardo had been renting for years and really wanted to buy their first home but with mortgages asking for large deposits it felt like their dream was out of reach.
This is when they checked Rightmove and found out about shared ownership. Shared ownership is a national scheme that aims to get people on the property ladder by giving the option to buy a share of a home and pay affordable rent on the rest. This can mean a smaller deposit, smaller mortgage repayments and the flexibility to increase shares in the future.
Maria said, “When we decided to start looking at homes, we checked the Rightmove website every few days and we saw the shared ownership houses that WDH was selling on the Heathlands development in Wakefield. However, when we called to ask, the three-bedroom homes were already reserved. That made us keep an eye on the WDH website where we could see all new properties that were available.”
Throughout 2022/2023 WDH has worked hard to build 422 new homes in Yorkshire with 266 homes for affordable rent and helped 156 households onto the property ladder through shared ownership.
Maria and Ricardo were interested in two developments in Wakefield called Heathlands and St Swithins. When a three-bedroom home became available on the St Swithins development, the couple jumped at the opportunity.
Maria added: “It was perfect for us. With a small deposit, we had the chance to buy our first house. We could choose what percentage we wanted to buy and apply for it.
“After applying, the process was quick and easy. We spoke with financial experts, Metro Finance, for a credit check and the following day we had an appointment to view the house and reserve. That was sorted in few days. I must say communication with WDH has always been good and the Sales Advisor, Courtney, always responded to our queries straight away.”
Since then, Maria and Ricardo have settled into their new home and are looking forward to decorating, gardening and inviting their friends and family over to celebrate.
Maria said, “We’re so excited to say that we’re homeowners. We would recommend shared ownership to others thinking about it. It is a great opportunity for young families to buy their first home. For many it could be impossible to do it any other way.”