“Shared Ownership with Help to Buy worked so well that we are doing it again!”

Rachel James Customer Story
  • Situation: Shared Ownership
  • Location: Bedford Bedfordhsire
  • Date purchased: Oct 17, 2016

Rachel Devine used Shared Ownership so successfully in her twenties that after all the excitement of her recent wedding, she is intending to do it all again! As she future-proofs her home, Rachel hopes to up-size her current two-bedroom flat and swap it for a three-bedroom house.

In 2016 Rachel was keen to find a home of her own and frustrated with rising rents she began to look at her options. “I knew I was going to struggle to buy on the open market and then a colleague mentioned Shared Ownership”. So, in the autumn of 2016 Rachel managed to buy a 40% share of a Shared Ownership home that finally offered her a space of her own.

“I was determined to stay in Bedford so I could keep living close to my family and friends so when my flat came onto the market I jumped at the chance!”

Based in Bedfordshire, Rachel bought her home with bpha, Options to Buy and the two-bed flat proved the perfect starter home as she began her marketing career for a local charity.

“Luckily I had friends who had already bought through the scheme and this gave me the confidence to take the leap into home ownership. I can now walk to and from work, it’s the perfect way to unwind after a busy day.”

Two years on, and now newly married, Rachel has decided to use Help to Buy to up-size her home. “We need to sell our current flat first and then we will apply again through Help to Buy East & South East so we can find somewhere larger, a 3-bedroom house would be perfect.”

“Using Help to Buy, Shared Ownership has been such a positive experience for me that it seems like a natural step to use the scheme again, it’s not just for first time buyers.”

“We have really enjoyed doing our flat up over the last few years and so we’ll be sad to say goodbye but we are ready for a bigger home and hopefully this time a garden.”

“I really can’t recommend Shared Ownership enough.”

Shared Ownership is the scheme that allows you to buy part of your home and rent the remaining part. Over time you can buy more shares until you own your home outright. It has been recently announced that first-time buyers in shared ownership homes will not pay any stamp duty on the first £300,000 of any home that costs up to £500,000 with immediate effect. The change will be retrospective back to the last Budget (22 November 2017).

If you are interested in how Shared Ownership could help you secure a home of your own, visit our website to find out about eligibility and to apply:

www.helptobuyese.org.uk/help-to-buy/shared-ownership

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“Using Help to Buy, Shared Ownership has been such a positive experience for me that it seems like a natural step to use the scheme again, it’s not just for first time buyers.”