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Real Life Case Study : 'We have upgraded from a two bed to a family home'


For five years, Emma and Tommy Hearn lived in a two-bedroom shared ownership house which they had bought through a housing association. In that time they gained enough equity in their home to be able to move to their dream family home in Dunmow, Essex.

The couple recently purchased a 50 per cent share of a three-bedroom home at Centra Living's (part of Circle Housing) Old Mill Cottages development for £185,500. "We were able to use the equity from our previous shared ownership home, to afford the £47,000 deposit required," said Emma, 35, who has two children.

"We wanted to move to a bigger home and the extra bedroom was a big factor. We love the rural location - it's a nice quiet area to raise a family," she said. "Moving here will make a real difference. It's great to have an extra bedroom for both children, and where we are has lovely schools."

Emma, who is an executive assistant, said: "The sales advisors at Circle Housing were brilliant and helped overcome any difficulties along the way." On moving it to the new home, she said: "I am still overcome with emotion, it feels amazing."

Mortgage payment: £642.29
Rent: £418.23 pm
Service charge £34.03 pm
Total £1,094.55