The Mills family are taking their first steps on the housing ladder at a new Derwent Living shared ownership scheme in Farnsfield, Southwell.
Their home is one of 12 recently completed properties on the site, which are a mixture of two and three-bed houses, plus two bungalows.
New residents James and Rebecca Mills have been married for nine years and have three children. Until recently the Mills had been renting nearby and were quick to put their names down when the properties were first advertised.
The Mills, who are both deaf, needed somewhere that would be big enough for their family as the children grow. “The space inside is amazing. Our children love their bedrooms and the large hallway.
“We have been renting, saving up to buy the right home to stay in the catchment area for my son's school. Due to house prices in the area, we decided to go for a shared ownership home.”
Housing is in short supply in Farnsfield, and house prices are over 30% above the national average. This means families wanting to buy for the first time have very limited options.
Rebecca says location was an important factor when choosing their perfect property: “Farnsfield is a lovely little village, the right location for schools and being able to walk to the village shops. The people are friendly, and having a park nearby really helps to get everyone together.”
Helen Munslow, land manager at Derwent Living said: “We’re really pleased that we can help families like the Mills get on the housing ladder. Shared ownership has been very popular over the last few years, especially as house prices have increased and the deposits required to get a mortgage are becoming less affordable.
“Being able to buy a smaller share and increase the percentage owned gradually is a big plus. It means that over time customers’ can own 100% of the property if they want to. It’s a very affordable way of owning your own home.”
Owning their home outright is something the Mills are working towards, and Rebecca is keen to recommend the scheme to others looking to make the move into home ownership.
“I would recommend shared ownership to anyone who is struggling to buy a house,” says Rebecca. “It’s such a joy to be able to own our house; it makes us feel more secure, particularly for our children’s future.”