CASE STUDY real
REAL LIFE
OLIVER GREGSON, 24, AND HIS PARTNER JESSICA BURTON, 23, DECIDED TO USE SHARED OWNERSHIP TO BUY THEIR FIRST HOME, AND PURCHASED A 30% SHARE IN A TWO BEDROOM HOUSE AT SO RESI’S ALFOLD DEVELOPMENT IN SURREY
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Oliver adds, “We were aware ue to the removal of of shared ownership, and high loan-to-value viewed it as a great way mortgage products to get on the property recently, the couple, ladder thanks to who were renting in the lower deposit nearby Cranleigh, requirement. It was found themselves also appealing due needing an extra to its flexibility – there 5% deposit to buy are no set times for their home. Oliver us to staircase, so we said “Our mortgage can purchase more lender increased our shares when we are in deposit requirement at a position to be able to.” the last minute, meaning SO Resi Alfold offers a that we had to find an extra contemporary collection of two 5% on top of our existing 10% bedroom apartments, and two deposit. Luckily our parents “We were and three bedroom houses, set were able to help out.” aware of shared on the edge of the picturesque Oliver and Jessica had ownership, and Surrey Hills. The development been saving for a deposit for viewed it as a great is surrounded by mature trees, six months, and realised they way to get on to the with a children’s play area and could afford to buy just before property ladder” communal gardens for residents. lockdown. With extra time on Each house features a landscaped their hands, the couple were garden to the front and a rear able to seriously start looking at garden. All properties also include shared ownership homes and went allocated parking and cycle storage. on a number of viewings once the Alfold has a village store, post property market re-opened. After office and pub. Guildford is 12 miles finding a two bedroom house at SO away, from where London Waterloo Resi Alfold, with a spacious garden, can be reached in 41 minutes. the couple purchased a 30% share with a deposit of £15,000. To find out more about the shared ownership homes HOW THE FIGURES STACK UP • Full market value – two bedroom house – £320,000 available in Surrey with SO Resi, • Share (30%) – £96,000 call 020 8607 0550 or visit • Deposit - £15,000 soresi.co.uk
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