SHARED OWNERSHIP
CASE STUDY
MANCHESTER Latimer at Lumina Village
Located in a prime location, directly opposite Old Trafford cricket ground and with Manchester United’s Old Trafford Stadium nearby, this new community offers a collection of one, two, three and four bedroom homes available with Shared Ownership.
Millennial renters Rachelle and John Jeffrey believed that their dream of homeownership was over, until Shared Ownership helped them to purchase a forever home for their young family at SO Resi Cambourne, Cambridgeshire. “My entire life goal has always been to buy a house.” Rachelle says. “That was my dream, and we hadn’t ever been able to afford it. John and I saved for years and years, and when the girls came along it got a little bit harder, but it made me want a home for us all even more.” The couple had always rented, having spent six years as tenants in their previous home nearby with their two daughters Darcy, nine, and Willow, ve. Rachelle looked at lots of houses and hoped to buy outright, but the maths just didn’t add up. “It got us feeling down for a long time. However, lots of our friends had used Shared Ownership, so we decided to nd out a bit more about it. We were sceptical at rst, mainly because we didn’t understand it, but the more we learned, the more we realised that it was something that we could do. Never in a million years did we think that we would be able to buy a house, even with Shared Ownership.” Rachelle (a children’s hospice worker) and John (who works in construction) were able to purchase a 45% share of a three bedroom townhouse worth £186,750 (full market value £415,000) using Shared Ownership. They put down a £12,000 deposit, just over 5% of the value of their share. Rachelle adds, “We wanted to buy the biggest share that our deposit would allow. It will help to keep the rent down, but more importantly we see this as our forever home and we wanted to invest in it. Our plan is to staircase all the way to 100% ownership, and we hope to buy more shares in the next ve to 10 years to make that happen.” The move enabled them to upsize from a two bedroom into a three bedroom home. “It’s the little things with renting that stop it from feeling like your own – we didn’t feel like we could decorate for example. But most important for us was providing security for the girls – we both work hard and we wanted to set an example for them and show it pays off.” SO Resi Cambourne is nine miles from Cambridge with three and four bedroom homes available with Shared Ownership.
The Old Trafford Metrolink stop is right outside the development so commuting is a breeze, and the arts and culture of MediaCity are just around the corner, too, providing endless entertainment opportunities. Trafford is renowned for its excellent schools, making the development perfect for families.
latimerhomes.com/new-build-homes/manchester/homes-trafford/lumina-village 0330 024 2737
*Based on a 40% share of the full market value of £227,500
BISHOP AUCKLAND, COUNTY DURHAM Bracks Farm This development of two, three and four bedroom houses has a selection of three bedroom homes available through Shared Ownership with Home Reach. Located in the Vale of Durham, less than 30 minutes from Durham
city centre, the development offers modern family homes with block-paved driveways, private gardens and energy-ef cient design. Residents bene t from nearby shops, schools and green spaces, alongside easy access to the town’s amenities and surrounding countryside.
homereach.org.uk/property/woodford-bracks-farm-bishop-auckland-county-durham 020 3744 0415
*Based on a 30% share of the full market value of £190,995
PURLEY, CROYDON Fount Spring Place Designed by award-winning architect Proctor & Matthews, this stylish new suburban development offers one and two bedroom apartments featuring private balconies, integrated appliances and high ceilings, creating bright and modern living spaces. Located just a six-minute walk from
Purley station, the development provides fast connections to London Bridge and Victoria in around 30 minutes, as well as easy access to Gatwick Airport and Brighton. Residents will also enjoy a communal courtyard and an under- ves play area.
shnewhomes.co.uk/properties/fount-spring-place 0330 162 0626
*Based on a 25% share of the full market value of £305,000
26 First Time Buyer June/July 2026
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