Joining the friendly Community at Flagshaw Pastures: Andrew and Vera’s Shared Ownership journey
09 October 2023
Andrew and Vera, a recently retired couple, wanted to escape their current situation due to fears that their rent costs would increase. The couple dreamed of more secure home in an area with a neighbourly feel.
With support from Places for People and the government-backed Shared Ownership scheme, Andrew and Vera purchased 25% of the home. The couple put increasing rent costs behind them, and the couple are now settled in a beautiful two-bedroom property at Flagshaw Pastures, Derby.
Read on to find out more about why Andrew and Vera chose Shared Ownership and how they found a property that suits their needs in a friendly Community.
In this section:
Andrew and Vera wanted to escape the rental market
57-year-old Andrew and his wife Vera, 62, have escaped the financial uncertainty of the rental market by downsizing to a new two-bedroom property at Flagshaw Pastures in Kirk Langley, Derby, by Places for People, in association with Peveril Homes.
The newly retired couple had been living in a three-bedroom private rental property in Hinckley, Leicestershire.
Andrew, previously a Citizen Advisor, and his wife, a former domiciliary administrator, are both newly retired, and made the move to Flagshaw Pastures in September 2021 in preparation for their new life stage.
How Shared Ownership supported Andrew and Vera’s journey
Andrew and Vera were growing increasingly concerned with the likelihood that their rent would increase and that their home would be put on the open market.
Andrew explains “With our retirement plans in mind, we had discussed the potential to move for a while. With the cost-of-living crisis and rising rental prices, we became increasingly worried about whether our monthly outgoings would increase, or if our landlord would sell our rental home.”
This triggered their interest in buying their own home, something that they didn’t think was possible until they heard about the Shared Ownership scheme.
Andrew & Vera’s Shared Ownership purchase process
Andrew and Vera discovered the perfect two-bedroom home at Flagshaw Pastures through online research that better suited their retired life and offered them financial peace of mind.
Their experience with Places for People was seamless. Talking about the buying process, Andrew says: “It had been a while since I had bought my first ever property – Places for People provided us with all these contacts and their communication was outstanding. Everyone we spoke with could not have been more helpful and this support continued post-move.”
By purchasing through Shared Ownership, Andrew and Vera were able to move on their own terms and are delighted to no longer be at the mercy of the rental market.
How buying a Shared Ownership property has changed life for Andrew and Vera
For Andrew and Vera, their previous property was a bit too large for them and their small dog.
“Our new home is a much more comfortable size for us, is lower maintenance in terms of gardening, and has all the energy efficient benefits we missed being in a draughty older rental property.”
By purchasing a 25% share of their new property, Andrew and Vera have achieved financial security and independence, and now own a share in a home that is perfectly suited to this new stage of their retired life.
“We are astounded by how low our energy bills are thanks to our home’s insulation, as our energy costs have never surpassed £100 per month. On top of this, we have joined a friendly Community and there is a lovely neighbourly feel. Now we have our foot on the ladder, we plan on staircasing our share of the property to a higher percentage in the future.”
The couple could not be happier with their new two-bedroom home which meets their needs in terms of cost, lifestyle, and location.
If you’re interested in finding out more about our Shared Ownership options and the current homes available, please visit our Shared Ownership page.