My first step on to the property ladder with the help of Riverside

First time buyer Meghann has become a homeowner in Cheshire with the help of Riverside and shared ownership.

Meghann, aged 24, had previously rented from a private landlord and lived with friends, so was ready to buy her first home – and shared ownership made the dream possible.

Property prices in Cheshire East are amongst the highest in the North West. To get on to the ladder in Congleton would require a household income of over £40,000 to meet the costs of a mortgage at the average house price of over £180,000.

First time buyer Meghann has become a homeowner in Cheshire with the help of Riverside and shared ownership.

“I couldn’t have afforded a home like this without shared ownership,” says Meghann, who works as an accountant for a construction firm.

“I’d heard about shared ownership before but never really looked into it,” Meghann explains. “I was looking at houses online for my friend, when I saw Riverside Home Ownership’s development. I was living in Congleton already so all my friends and family are still nearby,” Meghann adds.

Shared ownership means you part-buy a home, from as little as 25%, and pay an affordable monthly rent on the rest. The combined monthly cost is equivalent to renting the same house from a private landlord, and up to 20% less than buying outright. Because you’re buying a share, the deposit you need for a mortgage is smaller too.

Meghann filled in an application and came to view the show home. “The quality of the finishes is great,” she says. “It was all in a style I’d pick myself.”

“The staff from Riverside were really friendly and answered all my questions throughout the whole process,” Meghann says. “The communication was great and they made sure I was happy with everything before they met me with the keys.”

Riverside Home Ownership is The Riverside Group’s affordable home ownership and leasehold management specialist, and part owns and manages over 4,500 homes across the country.

www.riversidehomeownership.org.uk

 

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