Cornerstones newest Shared Owners

19/09/2019

Cornerstones newest Shared Owners and their Story of being a Shared Owner

Cornerstone Housing latest high quality traditionally built shared ownership homes are in Exmouth. The properties on this development are highly sought after in both the shared ownership market and the general public developed by Kach developments.

One local young family, with two children, were so pleased to be successful in their application and to then become the proud shared owners of a three bedroom beautiful house, located in a quiet cul de sac in a valley on the edge of Exmouth town. There are local shops and playing fields and the primary school is within walking distance.

The family said they would ‘definitely’ recommend shared ownership to others. They described the process as being the most difficult when waiting to find out if they were ‘lucky enough to be selected’ because ‘these types of property are in high demand’ in their area. However, ‘once accepted it was very straight forward’.

The family like ‘everything’ about their new property ‘it really is a dream come true for us as a family. The build quality has been fantastic’ and that shared ownership has fully met their expectations.

When asked if anything could be done differently they replied ‘I don’t think so’ which really says it all.

The family own a 50% share in a three bedroom end terrace house with a garden and parking.

Shared Ownership

Shared Ownership is an alternative route to home ownership, for buyers who are otherwise unable to buy on the open market. The scheme is a Government led initiative that is carried out by the UK’s housing associations.

If you are a first time buyer and do not currently own your home, shared ownership gives you the opportunity to purchase a share in a new build or resales property.

There is often a misconception that shared ownership means you share with other people, whereas the term ‘share’ refers to the ‘share’ in a property. Shared ownership properties can be bought either as an individual or as a couple.

If you are interested in Shared Ownership, there is more information on the Help To Buy South West and on Cornerstone’s websites including how to register and the qualification criteria.