Shared ownership in later life

How did you first hear about shared ownership? 

I signed up for shared ownership online after seeing some new build estates close to where I lived. 

What led you to buy through shared ownership?

After many years of renting, I was keen to have somewhere that I know I’m secure in. I looked at the housing market and was not able to get a mortgage to buy out right due to my age. I am on my own so security is very important.

How easy was it for you to get a mortgage?

I was initially worried that I would not get a mortgage due to my age, but I contacted a financial advisor who did all the leg work for me so would highly recommend using one. I had a choice of 10 mortgages with varying fixed terms and interest rates to pick from. Once I’d made my choice, they handled everything for me. Far less stress than trawling myself. I also got a £500 welcome after my first mortgage payment. 

What is your favourite thing about your new home and why?

Other than the fact it is new and bright and spacious, I love having a garden that I can make the way I would like it. Flower beds on the go and bird table. It is also in general quiet which for an estate is great. 

What advice would you give to someone who is considering shared ownership?

It can feel a little over whelming if you are doing it alone and not up to date with all the legal requirements such as money laundering. My advice would be to speak to the team at Moat who can run through everything with you.

Is there anything else you would like to share about your experience with shared ownership?

The post move in contact has been amazing. As with all new properties, there are a few niggly bits which are gradually being rectified. All in all, I would recommend the option of shared ownership. 

For more information about our homes for shared ownership visit our county pages or email newhomes@moat.co.uk.