Rachel lives in a beautiful new house in Wavertree, Liverpool.
She's added her own touches to the place and couldn't be
But last year, she was struggling to find the right house in the
right area, at the right price. That's where Riverside Home
Ownership came in to help.
"I've worked hard to get a good job and I was ready to buy
a place of my own. I wanted to stay in this area but there wasn't
anything within my budget that I liked."
Rachel, aged 33 and a research nurse at a specialist hospital,
was faced with the difficulty of saving up a deposit whilst still
paying all the usual bills - like lots of people trying to buy a
home for the first time.
Shared Ownership was the perfect solution for Rachel
Rachel bought a share of her new house, and pays a reduced
monthly rent on the other part to Riverside Home Ownership. The
Shared Ownership scheme means the cost of her mortgage plus the
rent is actually less each month than the same house would cost
just to rent. Because the mortgage she needed was smaller, the
deposit was too.
"I'd heard of Shared Ownership before, but never realised just
how perfect it would be for me. I read up about it on the Riverside
Home Ownership website and then found this lovely house on there. I
just had to go and see it for myself, so I arranged a viewing with
"I fell in love with it straight away - it was perfect. The
development is close to where I was living, so still near my family
"And I was so impressed by the quality. The house included all
kinds of extras - carpets, tiled floors, spotlights, and the
kitchen was really modern. There was a lot more included than I
Rachel decided to go ahead. She filled in an application,
reserved the house and spoke to a financial advisor to arrange the
"The team at Riverside were brilliant. They answered all of my
questions and made the whole thing really straight forward. Once I
had been approved for the scheme, they were able to point me in the
right direction for a solicitor to get things moving."
Shared Ownership is a government backed scheme helping people
buy a home who otherwise wouldn't be able to afford to buy it
outright. First time buyers and people who need to move for work,
family or health reasons can all apply for the scheme. The housing
association will carry out some checks to make sure you can afford
the property long term, and discuss with you which share you're
able to purchase.
"So I had my solicitor working on the legal side of things, and
my financial advisor applying for my mortgage. I was quite
organised with my paperwork, payslips and things, which helped the
process move along quite quickly. When I wanted to visit the house
again to measure up and take some photos, the Riverside team were
more than happy to meet up with me. We kept in touch throughout the
"It couldn't have gone any better really. Once we'd arranged a
date for me to complete the purchase, I could get the other
important things organised! I had my new furniture, my new colour
schemes in mind, so sorted my moving van all ready for the big
Buying a Shared Ownership home with Riverside Home Ownership is
just the beginning of an ongoing relationship, so the team are
always on hand for residents to speak to.
"I was shown what all my switches did, where my meters where and
how to work the new heating system. They left me with all my
instructions and lots of information for me to keep hold of in case
I need it in the future."
"I don't think I'll want to move anywhere else for a long time.
I've always got the option to increase the share I own as and when
I can afford it. I can eventually buy out all the other shares and
own my house completely. I know Riverside will be there to help me
when I want to do that too."
The Riverside Home Ownership team have over 25 years' experience
in affordable home ownership sales and leasehold property
management, winning numerous awards along the way.
Find out more at www.riversidehomeownership.org.uk or call 0345 155
9029, 24 hours a day, 365 days a year.