Who did we help?

Scott and Sam met at university in Nottingham and have lived with their respective parents in nearby towns ever since they graduated in 2022. Both in full-time employment with strong career prospects, the couple have been keen to move in together for a while.

What did they need?

Scott and Sam both agreed there was little point using their collective salaries on rent, instead hoping to buy a home together. They had found a selection of properties in an area commutable to each of their workplaces and needed a mortgage product that would enable them to purchase.

Why were they facing challenges?

Having reviewed their own finances in detail, Scott and Sam knew they would struggle to save a deposit and secure a residential mortgage loan for any of the properties they’d viewed. They needed a solution that would unlock home ownership in a much more affordable way.

How did we help?

Our Shared Ownership mortgages are designed to help individuals and couples like Scott and Sam - who may thought home ownership was out of reach - take their first steps onto the property ladder.

They approached a broker who had previously worked with our Business Development Manager, Emma, and knew we had recently reduced our rates. We were able to provide Scott and Sam with a joint loan of £142,975 at 95% Loan-to-Share, which equated to a 43% stake in a £350,000 property. This then gave the couple enough leeway with their finances to afford a monthly rent of £516 on the remaining share.