Marie and Darren, Tamworth

After years of renting privately, Marie and her husband Darren decided it was a waste of money paying their landlord’s mortgage when they could be paying their own.
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Marie works as a nanny and as she is in her mid-50s, knew that getting a mortgage would be difficult. She has a limited amount of working years left and her husband doesn’t work due to his disabilities. They weren’t very happy in their rented home and started to look on property websites for a solution.

“We always wanted to be able to buy our own home. When I saw the property we now live in, it jumped out at me. It was a brand new house and we could buy just a 25% share, which would make it much easier to get a mortgage.”

Marie says that buying through shared ownership has been the best thing they’ve ever done.

“We’re amazed that we get to live in a beautiful new home for a very small price. We’ve also been able to move closer to family and it’s all been so affordable and straight forward.”

Investing in the future

Marie and Darren are thrilled with their home and it all it offers them now but also feel they are investing in their future.

“By paying off the mortgage on the share we own, I know when I go into retirement we will only pay the rent portion which will be much more affordable on a pension. We have life cover for both us so the other can still live in our home if anything happened to either of us. It’s also a house for life so it can be adapted if we ever need it in later life. “

The couple also point out that while perfect for people in their situation, shared ownership is also a fantastic option for those who are younger and just starting out.

“They can start off small and don’t need a massive deposit. You could build up over your working life and have something to leave to your children.”

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