Dream of Owning Your Own Home? - Lincolnshire Housing Partnership

Posted 24 September 2018

Dream of Owning Your Own Home?

Buying a home of your own can be a major financial challenge but the dream could become a reality for local residents.

Keen to improve home ownership dreams for local residents who find affordability and saving for a deposit huge obstacles; we run a popular part rent, part buy shared ownership scheme.

The scheme is a lifeline for many, allowing buyers to move into a brand new house by purchasing from as little as 25% to 75% of the property, paying a deposit for just the share they wish to buy and paying rent on the remainder.

The home owner is then given the option of buying as little or as much additional equity in the house as they like, as and when they can afford to – ‘staircasing’ up to 100%.

LHP home ownership manager Sarah Smaller said: “Home ownership is out of reach for a lot of people but shared ownership allows people to get on the property ladder without relying on the bank of mum and dad.

“For first-time buyers, saving hard, this is a great opportunity as the amount of deposit is so much less.

“The majority of people are first-time buyers – young families, self-employed people and individuals trying to find a home but it’s not just young couples and families who take advantage of the scheme, individuals who are looking to get back on the property ladder have also bought homes with us, people who have experienced the breakdown of a relationship, as well as older couples who want to own their own home but were unable to take on a large mortgage because of their age.”

Sarah added: “I think the fact that shared ownership offers residents the chance to purchase further shares as and when they can is great – some people have staircased up to owning 100% of their property which is ultimately what customers start out wanting to achieve.”

Local resident Emily Hamilton has recently taken up the opportunity. She said: “I found the scheme really suitable for me and my family. By doing this I was able to get on the property ladder, with being a single mum with two small children this would have been impossible before.

“It was a really easy and stress free process and I would recommend it to anyone who is finding it difficult to get accepted for a standard mortgage especially if they are on lower income or a single parent.

“I am really grateful for the opportunity to be able to provide a nice home for my children.”

So far, we’ve have sold nearly 200 homes as former landlords Shoreline and Boston Mayflower.

Prices start from as little as £120,000 – which could require a deposit of just £1500 for a 25 per cent share depending on the mortgage lender’s requirements.

Photo: New homes at Rosebery North, Boston

We’re very keen to increase provision. LHP head of asset management Martin Woods said: “We’ll be providing at least 60 extra new homes each year enabling us to house an additional 4,000 people over the next 30 years.”

“We have lots of properties available across the county – from the popular seaside resort of Cleethorpes to bustling Boston as well as the historic market towns of Horncastle and Louth.”


Stay in the loop

Photo: LHP home ownership team Sophie Grant, Jo Franklin and Sarah Smaller

Properties can be snapped up very quickly depending on location.

To keep up to date with all the latest homes, sign up for marketing alerts, check out our social media channels or look out for hoardings around the new developments. Sarah said: “Get in touch with us and we’ll let you know when they are available.”


Here to help

Sarah Smaller is LHP’s home ownership manager which means she’s the lady – along with the team – who helps customers buy a home, guiding and supporting them through the process every step of the way.

Sarah credits moving house a lot as a child with her passion for getting people happily settled in their new home (and she sure knows how to pack a box or two!).

Sarah said: “As the area’s largest housing provider, it’s great to be able to offer options for local residents to find affordable homes be they rented or shared ownership.

“Buying a home can be very daunting but we guide people through the process from their initial enquiry to the moment they put the key in the door of their new home.

Photo: Brand new homes in Holton-le-Clay

“A lot of our customers thought they would never be able to afford to buy their own home so seeing their faces when they realise they can take that first step on the property ladder gives a huge amount of job satisfaction.

“Seeing someone move into their new home and knowing you have helped them achieve that is a great feeling.”