Shared ownership helps Nikki become a proud homeowner

27-year-old Nikki Swift has good reason to celebrate. She’s just become the proud owner of a smart two-bedroom Stonewater home in Thorpe Willoughby, near Selby.

Nikki Swift (1)

“I’d been living on my own and renting a little flat that wasn’t the best - it wasn’t very warm, and it needed a lot of repairs. I decided to move back home and live with my parents, so I could start saving-up to buy a house,” explains Nikki who wasn’t too hopeful that she would be able to afford anything in the area where the average house costs £184,349 - eight times the local wage.

But this all changed when she came across Stonewater’s new shared ownership development in Sherwood Croft. There she found her perfect property - a beautiful new end of terrace house at a price she could comfortably afford.

Affordable home ownership
“Shared ownership is a cross between buying and renting which can be a great alternative route to home ownership for first time buyers or anyone who can’t afford a mortgage on 100 per cent of a home,” explains Victor Inegbese, Stonewater Sales Executive. “With our shared ownership scheme, customers can purchase anywhere from 40 per cent up to 75 per cent of their Stonewater home. They then only pay a small deposit and a mortgage on the share they’ve bought which can be increased later until they own the whole property.”

Through Stonewater’s shared ownership scheme, Nikki has bought a 40 per cent stake in her new £132,500 home for just £53,000. She pays a reduced monthly rent of £182.19 on the remaining share which is significantly lower than the £530 average market rent for a two-bedroom home in the area.

Built by Miller Homes, Nikki’s new house offers spaciously designed accommodation over two floors with two good-sized bedrooms and a contemporary bathroom upstairs. On the ground floor the property features a stylish open-plan fitted kitchen and dining area which connects with a bright and airy living room, a front hallway and downstairs WC.

“My favourite part of my new home is my very spacious bedroom which I think could be the biggest room in the house – which is a real plus! It’s also nice to have parking in front of the house and I have a fair-sized garden,” says Nikki. “I’m also close to shops and a pub in the village, and it’s a five-minute drive to Selby town centre.”

An investment for the future
Six months on from moving in, Nikki loves her new home. As a new owner, she’s also happy with the customer support she’s received from Stonewater. “They offer you help with your snagging list,” she says. “You just have to contact their customer care team and they arrange for the work to be completed.”

Nikki also thinks shared ownership is a great way to get a stake in a property for anyone who can't afford to buy outright on the open market.

“I would definitely recommend shared ownership. Buying this house was one of the best decisions I’ve ever made,” she says. “I love the fact that I’m a homeowner and I’m proud to have a little investment.”

For more information on Stonewater Homes, please visit or call 023 8065 8858.