"Shared Ownership was the perfect fit"

Sue was previously a homeowner for 20 years, before stepping off the property ladder when her daughters flew the nest. “I didn’t need all the space in the house anymore, and I thought it would be better to use the money for holidays and experiences with my family while renting – and thought I would be able to buy somewhere smaller later.”

“However, once I had been renting for a few years, the housing market seemed to go crazy, and the timing just never aligned for me to buy again. It felt like the market had moved on without me. I either had the income, but not the deposit to buy, or I had the money for a deposit, but not the income to sustain a large enough mortgage.”

When she retired, Sue's pension gave her the financial freedom to decide her next move. “I wasn’t sure of how to navigate the housing market, but I knew I wanted more security in my retirement. My daughters echoed my thoughts and wanted me to enjoy retirement without having to worry about a landlord potentially evicting me at short notice – or rents going up. I began looking into mortgages, where my monthly payments would have been around £1,500 for a one-bedroom apartment, which simply just wasn’t an option for me.”

Local to our Lindsay Oaks community in Poole, Sue came across the development and began looking into plans. After spending some time researching Shared Ownership, it didn’t take her long to realise it was the perfect solution. “In all honesty, I didn’t really know much about Shared Ownership but based on what I had read in the news, I didn’t have the best first impression. On seeing the brand-new Abri development in a great location, I decided to look into it a bit more. Buying a share of the property meant I could contribute some money from my pensions, without having to take on a full mortgage which would not be feasible.  The remaining rent is much less than I was paying previously.”

“I was familiar with Abri and how they are a not-for-profit organisation, which made me feel a lot better about the possibility of using Shared Ownership and the website was able to answer any questions I had about the scheme through helpful videos and tables explaining each stage.”

Shared Ownership allowed Sue to look at a larger two bedroom apartment at Lindsay Oaks. “I wanted to futureproof as much as possible, so I knew I needed a ground floor apartment. The benefit of having a spare room means that one of my daughters can stay with me and if down the line, I require care, there’s also space for that. I fell in love with the home as it ticked all these boxes and is tucked away towards the back of the building, which is surrounded by the nearby woodland. 

“It is important to me that I have something to leave my daughters and rather than having capital, I now have an investment which is growing for them. That wouldn’t be possible if I was still renting.”

Previously renting a Victorian terrace, Sue was keen to move to something more energy-efficient, she explains: “I had been paying over £125 a month for my electric and gas bills, and in my new home they are around £56. This has not only helped financially, but I’m pleased it is more environmentally friendly. I have grandchildren that are going to live in the world I leave behind, so it matters a great deal to me.”

Two years into retirement, Sue is thoroughly enjoying this stage of her life. “I look after my granddaughters around two or three times a week, as I was very grateful for the help I received as a young mother and I want to do the same for my daughter, especially as the cost of childcare is so high.

“The location of my home is ideal, I have Lidl, Tesco, John Lewis and Homebase all within five minutes of my doorstep. It is wonderful to be surrounded by nature as I previously owned a home with a large garden and to still have access to green space was a huge pull. There are 60ft trees by my terrace which my granddaughter loves to explore and I also have a friend with a beach hut in the nearby Branksome Chine Beach, so I try to soak up the atmosphere there when the weather is nice. It’s a peaceful place to enjoy my retirement, it really has ticked all my boxes and thank goodness Shared Ownership has made it possible.”

“After being cautious of the housing market, I feel very lucky to have had fantastic help along the way. Gina from the Abri team was beyond helpful and struck the perfect balance of getting the job done while being a caring point of contact. The information was endless and easy to digest. The process from start to finish has been really positive.