Daniel & Danielle's story

Helping a family get on the property ladder

For Danielle Angel and Daniel Stewart the decision of whether to continue renting or take that step onto the property ladder was made easy after hearing about Shared Ownership.

New SO Resi homes in Horley, Surrey near to where they were previously renting in Reigate, became available and provided the opportunity they’d be waiting for to afford to buy their new home.

After attending the open day, the couple bought a three-bedroom, semi-detached house at Foresta in Horley through Shared Ownership, buying a 45% share for £173,250.

"It’s the same amount we were paying previously in our rented apartment"

“We were really lucky to be able to use money gifted to us from my parents, who helped us put down £25,988 – a 15% deposit of the share,” says Danielle. “Our monthly mortgage payments are £595 and the subsidised payment on the share we don’t own, is £485, totalling £1,080. It’s the same amount we were paying previously in our rented apartment, except it was just paying our landlord’s mortgage off – not ours!”

The couple decided that one day they’d like to own 100% of their new home so they also signed up for SO Resi Plus. It enables shared ownership buyers to purchase an extra 1% of their home each year, without the hassle – and cost - of arranging a solicitor each time a share is purchased.

Danielle says: “It’s just a great feeling, knowing we are now paying towards a home of our own.”

Originally Danielle and her partner were going to buy the house next door, but their current house, which is slightly bigger, became available. “We had to arrange a new mortgage, which was a lot of extra effort and hassle, but the Thames Valley Housing sales team were very helpful throughout the whole process. There was even a sign on the front door saying ‘welcome to your new home’ on the day we moved in, along with a hamper waiting inside. It was a lovely touch that makes all the difference – we’re very happy here.”