Single mum gets onto the property ladder with the help of shared ownership

Shared ownership is an affordable way to buy a home of your own. NCHA's customers have written about their experiences in a series of case studies, to explain what shared ownership has done for them.

As a single mum, Gemma longed to own a home of her own and give herself and her daughter more security for the future.

“When I realised I couldn't afford to buy as a single parent with one person’s salary I started thinking about shared ownership. This would give me the option to own a share of a home.”

Gemma lived the other side of Loughborough in a 2-bedroom rented home. She knew she had to make a change. It has taken six years of working and saving hard, but she now has her perfect shared ownership home.

Gemma has recently purchased a 25% share of a three bedroom shared ownership house in Loughborough. Now settled into her new home, Gemma reveals how she found her new home and what she loves about the house and the development.

“I work in food poverty and was visiting the Co-op next door to collect donations when I saw the sign for the development being fitted. I took down the contact details and gave NCHA a call immediately. I also went through their Facebook page to get an idea of the types of homes they build.

“The location was perfect and very accessible, close to my daughter’s school and on the local bus route. What I also liked about the development is that it wasn’t huge like some of the ones I had been looking at. There are only 20 houses in total and already we have a nice little community.

“The interior feels really modern and sleek. I previously rented a cold terraced house that was dated and had very little investment. It was a relief to leave! I calculated I had spent over £55k on rent over the last eight years, which was wasted money. I am proud to now be putting money into something I own.

“My daughter Eloise is 10 and is really happy in our new home. She can still go to the same school and see her friends, so it works well for both of us. We’ve got to know our neighbours already and our children will go to the same secondary school.”

Looking to the future, Gemma sees herself staying long term. “Luckily my mortgage is fixed for five years which gives me some security during these turbulent times. I am really happy here, so I would consider buying more shares in the future.”

Gemma is happy to share her experience of her shared ownership journey, “I would recommend it to anyone if they can't afford to buy on the open market and want to get out of renting.”