Patricia’s stepping stone to home ownership

Patricia lives in Plaistow, east London, and had rented privately for 15 years before discovering shared ownership.

Getting a foot on the property ladder is no easy process, especially in London’s overheated housing market. But after renting privately for so many years, Patricia and her partner were determined to begin the process of securing a home they could call their own.

After overcoming some initial difficulties, including navigating through lots of paperwork, Patricia’s local council recommended that she explore the possibilities of shared ownership. She was given a list of housing associations and came across One Housing.

Shared ownership is a government-funded scheme that helps people buy a share of a property and pay rent on the rest. Shared owners can purchase between 25 and 75 per cent of the property, with the rest owned by a housing association. Buyers have the option to increase their share over time.

One Housing supported Patricia throughout the shared ownership process and remained on hand to answer any questions. Having weighed up the options carefully, it became apparent that shared ownership was the right choice for Patricia and her partner – it would provide them with the rights and security of an owner-occupier, and could act as a stepping stone to owning a property outright.