Renting provided a roof over their heads, but never the security she longed for. “The safety of owning my own home was so important,” she says. “When you’re renting, you’re always worrying — what if the landlord sells, or wants the property back? I wanted that peace of mind for my children.”
Discovering Shared Ownership
Buying on the open market simply wasn’t an option for Sophie. She hadn’t even considered homeownership a realistic goal until she came across Mill Bay Homes’ Shared Ownership scheme.
Through the scheme, Sophie was able to purchase a 25% share of a three-bedroom semi-detached home, turning what once felt like a distant dream into a reality.
“There seemed no way of owning my own home until I came across the shared ownership scheme,” Sophie recalls. “The process was actually quite straightforward. I used my smaller deposit to secure a smaller mortgage — which is often the hardest part for first-time buyers. Now I’ve got my foot on the property ladder.”
A New Chapter
Moving into her new home has been transformative for Sophie and her children. “We absolutely love our new home,” she says. “It’s so well finished, and Mill Bay Homes have been amazing — always on hand if I need anything. I could never have done this without the scheme.”
Not only has shared ownership provided stability, but it’s also had a positive impact on her finances. “It’s much more affordable. My monthly payments are lower than if I had a full mortgage, and that gives me a chance to save — and actually live,” Sophie says. “I know I can buy more of my home when I’m ready, and I’m no longer living with the worry of a landlord moving us on.”
Looking Ahead
Since buying through shared ownership, Sophie feels more financially secure and optimistic about the future. “Now that I have a mortgage, I’ll be able to staircase and buy more of my property in the near future,” she shares. “Just a few years ago, that would have seemed so far out of reach for me.”
Sophie is now an advocate for shared ownership and the opportunities it offers to families like hers. “It’s such a brilliant stepping stone onto the property ladder,” she says. “I’d recommend Mill Bay Homes and their shared ownership scheme to anyone who’s striving to make that first step — it’s genuinely changed our lives.”
