Shared ownership makes property dream come true for Whitby couple

A young couple and their two dogs from Whitby are settling into their brand new home on Wagtail Crescent in the town thanks to a shared ownership scheme from York Housing Association, which has helped them take their first steps onto the property ladder.

Sam Curtis and her partner Nathan Sutherland were looking for their own home in the town, but would have struggled to raise the substantial deposit required for a conventional purchase home.  When they learned that York Housing Association was offering shared ownership on their properties on a site just off Larpool Lane, they jumped at the chance.

“Whitby is so full of flats and holiday homes that we were struggling to find anything suitable, so when we heard about shared ownership of these newly-built homes, we got in touch with York Housing Association straight away.  We thought that the process would be quite difficult, as you don’t hear much about shared ownership, but we were amazed by just how easy it was,” comments Sam.

Signing up for a 50% share in the property, and with the option to increase their percentage as their circumstances change, Sam and Nathan are now proud owners of a two bedroom home.  “We never imagined that we’d be able to afford a new house with its own garden, so this is fantastic – I can’t believe that more people don’t give shared ownership a try,” adds Sam.

Under shared ownership schemes, the purchaser buys a percentage of the property at the current market value, and then pays a discounted rent on the remainder of the property.  “If you are on a low income, it can be very difficult to raise a large enough deposit for most family homes, so many people assume that renting is the only other option,” comments Lisa Otter, Development Officer for York Housing Association.  “It is wonderful to hand the keys over to people like Sam and Nathan, who are now enjoying living in a wonderful first home together.”

York Housing Association currently has a number of three bedroom shared ownership homes available on the Whitby development, with prices starting from £87,500 for a 50% share, although buyers may purchase a larger initial share if they choose, and may buy more shares in the property when they are able to do so.  Current special offers now include free carpets and floor coverings in the homes.  For more information on York Housing Association shared ownership homes or to confirm attendance at its shared ownership open day event on Sunday the 13thof September between 10am and 2pm at the properties on the Larpool development, please call Lisa Otter on 01904 636061 or visit www.yorkha.org.uk

ENDS

For further media information or photographs, please contact:

Jay Commins

Pyper York Limited

Tel:         01904 500698

Email:    jay@pyperyork.co.uk