• Mon. Dec 11th, 2023

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Shared ownership helps first time buyers secure dream home

19363A young local couple have taken the first step onto the housing ladder thanks to Coast & Country’s shared ownership scheme.

Katie Harding, 21, a Digital PR Accounts Executive and Sascha Reiter, 23, an Administration Assistant, have bought a house on Coast & Country’s Sandmartins development in Darlington, using the scheme. The house has 2 bedrooms and the couple have purchased a 45% share.

Shared ownership enables the buyer to purchase a share in a property ranging from 25% to 75% and then pay rent on the remaining share, which is owned by the housing provider. Over time, buyers can invest more into the property allowing them to build on the percent they own, meaning they can work towards owning 100% of their home.

Katie said: “Without the shared ownership scheme I don’t know when I would have been able to get on the property ladder. I am so thankful to Coast & Country giving Sascha and I the means to buy our own home in a way that’s affordable and I hope to build upon the percentage we own over the coming years.

“Owning your first home gives such a great sense of independence and I’m excited to see what the future brings. Sandmartins is a wonderful place to live, I could not recommend it more for first time buyers.”

Iain Sim, Chief Executive at Coast & Country, said: “Coast & Country is delighted to have been able to help Katie and Sascha buy their first home. We understand it is getting more and more difficult to become a home owner, making our shared ownership scheme a fantastic way to invest in a property over time.”

By admin