'I didn't think I could afford to buy a home for another 10 years - now I'm a homeowner at 25'

Homeownership feels like a far-off dream for many, especially solo buyers. With rising house prices and mortgage rates, first-time buyers struggle to save for a deposit. Midwife Steph, 25, thought it would take her another decade to afford a home while renting in Leigh. To cut costs, she moved in with a friend in Salford Quays, where she discovered the government-backed Shared Ownership scheme. This option allows buyers to purchase a share of a property and rent the rest, making homeownership more accessible.

After saving £5,000, Steph bought a 30% share of a two-bed apartment at Furness Quay, valued at £73,050. The location suited her job in Manchester, and she loved the area. She snapped up a show home ready to move into and was over the moon with her quick purchase.

Steph feels fortunate to own her apartment, especially amid the current renting market. She believes Shared Ownership is a fantastic way for first-time buyers with small deposits to get on the property ladder, enabling them to buy parts of a home over time.

Read the full article at Manchester Evening News