‘We’ve got our happy ending through shared ownership’ 

A couple who were forced to sell their home after losing their business have found their ‘happy ending’ thanks to the help of shared ownership.  

Husband and wife, Gary and Karen, had been privately renting following the collapse of their haulage company in 2018 but wanted the safety and security of owning their own home again. 

“We wanted to secure our future,” explains Gary who now works as a sales representative. 

“We’d had to move out of a couple of rented properties due to the landlord selling up and we wanted something more long term. I’m 65 this year and Karen is three years younger than me. We wanted the peace of mind and security of knowing we wouldn’t lose our home.” 

Shared ownership had already helped two of their children onto the property ladder, so when the couple learned about a brand-new development in the South Staffordshire village where they lived, including homes for shared ownership marketed by Severn Homes, they enquired straight away. 

Shared ownership is a government-backed scheme that allows you to buy a share of a home instead of the full amount. You then rent the rest at a reduced rate.  

“When we saw this shared ownership house was available in the village, we couldn’t believe it. We knew we wanted to buy the home before we even viewed it,” Gary said. 

“We wouldn’t have been able to afford to live in a home like this, in the area we love, without the help of shared ownership. 

“It’s got two bedrooms, which is perfect as there’s only two of us, but there’s somewhere for our grandchildren to stay. It’s got a good-sized garden and it’s in the village location.” 

The couple are now preparing to move into their new semi-detached home with their dogs Jack and Todd.  

When the time is right for them financially, they will be able to buy more shares in their home through a process known as ‘staircasing’. 

Gary said: “Since we completed on the house people at work have noticed a difference in me, I never thought this would be possible and it’s a weight off my shoulders knowing we have somewhere to live that’s ours. 

“I would recommend shared ownership. It’s already helped two of my children onto the property ladder and it’s secured our future too. We’ve got our happy ending.” 

Gary and Karen were supported throughout the process by Severn Homes’ Sales Consultant Gail Beddow. 

Gail said: “Many people are only aware of the traditional routes to buying a home, requiring large deposits. Shared ownership offers people an alternative solution to getting on the housing ladder at all stages of their lives, with a smaller deposit, and the opportunity to increase their equity over time.  

“Gary and Karen are a perfect example of how shared ownership can change lives and why we are committed to helping more people like them to have the chance to own their own home, in an area they love, close to family and friends.” 

Before deciding if the scheme is right for you, you’ll need to consider what you can afford, what deposit you can save and understand the monthly payment breakdown. 

You can find more information about shared ownership here and see some of our available homes here.