Local buys first home thanks to Shared Ownership in Oxford

“During the virtual preview event, I found out so much about Shared Ownership and the development – I knew at that point that Newman Place was where I wanted to buy.”

Shared Ownership helped Dannielle stay local

Dannielle has spent all her life in Oxford and didn't see herself becoming a homeowner anywhere else. Living with her parents to save for a deposit, Dannielle was initially disheartened with the lack of options within her budget – until she came across Shared Ownership.

"I’d been thinking about moving out of my parents’ home for a while, but faced a lot of barriers, including trying to get a mortgage for a single buyer and saving up for a deposit. However, when we went into lockdown, I was able to save more money than before, putting me in a position to start my property hunt more seriously. It was then that I came across Shared Ownership."

Homeownership made possible with Shared Ownership

Shared Ownership is a government backed scheme which allows buyers to purchase a share of a home, and pay rent on the remaining portion. The initial share is usually between 25% and 75%, with purchasers only requiring a deposit and mortgage for this portion of the property. As and when they can afford to, purchasers can buy greater shares in their home through a process called ‘Staircasing’, until they own their home outright.

Through the scheme, Danielle was able to purchase a two-bedroom, two-bathroom apartment at Newman Place – a new development by Peabody New Homes in Littlemore, on the outskirts of Oxford city.

Newman Place - the dream home for Dannielle

Six months after her first appointment, Dannielle had saved up the deposit she needed, and got back in touch with the sales team to secure one of the last remaining homes.

"In the months between my appointments, I tried to stop thinking about the development in case it sold out, but I couldn’t help myself – I knew it was the development for me. I had totally fallen in love with Newman Place; the location was such a huge win for me, and to know that I could potentially get a second bedroom in my budget, together with the spaciousness and modern layout of the homes - it really was perfect. I kept my eye on the development and its progress, and by August I had saved enough to put a deposit down on my home. I contacted the sales team straight away, and immediately reserved!"

Buying a new build home off-plan

Reserving her home off-plan, Dannielle had no concerns about buying a property she hadn’t yet seen in the flesh thanks to the Peabody New Homes team.

"The sales team really helped me visualise my future home, walking me through the floorplans in depth, and showing me how I could lay out all the furniture. I also got to see specification examples like kitchen cabinets and bathroom tiles, so I knew these features were all good quality. Another bonus was all the integrated appliances included in the price, like a fridge, freezer and washing machine; it was reassuring to know that when I moved in, it would all be ready to go."

Creating different spaces to optimise her home

From creating a brilliant work from home space, to the ultimate entertaining area for friends, Dannielle lists some of the features she loves most about her home.

"One of my favourite parts of my home is the hallway. It’s so spacious and long, and I’ve now created a photo wall with pictures of my friends and family, so it feels really homely now. I’ve also bought an island breakfast bar that matches my kitchen cabinets perfectly, so I’ve been able to create two separate spaces in the open plan kitchen living area. The second bedroom has been amazing! I have set up a desk area where I work, and I’ve also styled it into a spare room, which my friends are always staying over in."

Building community at Newman Place

After having so many friends to stay in her new apartment, some of them are now looking to buy their own home at Newman Place.

"One of my friends who lives locally was having the same problems as me in regard to finding something affordable in Oxford. But now she’s visited Newman Place and seen how good a scheme Shared Ownership is, she’s hoping to secure a property in one of the later phases here.”

Newman Place proved a fantastic find for Dannielle, giving her the Oxford lifestyle she’s always enjoyed, at a price she could afford.

"I’m so proud to be a homeowner in Oxford, and to have managed to do it all by myself. I’m really enjoying my lovely new home, and plan to be here for the foreseeable!"