The Kosmala Family - Case Study

Kaya and Patryk Kosmala, both 42, purchased their first home in Washingborough, Lincoln, through Shared Ownership and, 12 years later, returned to the scheme to upsize for their growing family. The couple found that Shared Ownership was the best option to meet their needs, enabling them to secure a spacious home for themselves and their teenage daughter without overextending their finances.

Patryk says: “12 years ago when we bought our first home, Kaya was on maternity leave and I was the sole earner, but we needed a stable home for our new family. With a deposit of just £1,500 at the time, we purchased a 25% share of our two-bedroom house. We got onto the property ladder, and Shared Ownership meant we didn’t have to sacrifice family holidays, dinners out or fun experiences for our daughter to do it. To buy on the traditional market, we would have had to compromise such a lot. Buying our first home through Shared Ownership was the best decision we ever made.”

As their daughter Matylda grew older however, the family needed more space. They found their next Shared Ownership property at Bracebridge Manor in Bracebridge Heath, just a mile from their previous place. With a £12,500 deposit, they upsized to a spacious three-bedroom, two-bathroom semi-detached home, buying a 50% share valued at £249,950. The Kosmalas’ total monthly housing costs now amount to £981, covering a £615 mortgage payment and £366 in rent and service charges. Patryk adds: “The money from selling our share of our first home comfortably covered our deposit. We were able to purchase a 50% share with Sage Homes, an uplift on the share we own from our previous home. We currently have a 5-year fixed-rate mortgage and after that period, we hope to staircase to 100% ownership.”

The process of buying and selling was easier than expected. Kaya says: “We posted a message on social media asking for recommendations for estate agents and almost immediately got a reply from someone asking to buy our house. Much like we were 12 years ago, they were specifically searching for a Shared Ownership home; it highlighted just how in demand Shared Ownership properties are. They viewed the home and put in an offer, purchasing a 50% share.” While not every Shared Ownership sale begins with a simple social media post, Sage Homes makes the resales process easy.

The seller can choose their own estate agent to find a new Shared Ownership buyer, and Sage Homes offers dedicated support along with a comprehensive information pack to guide and support them through the process. The couple were keen to find a home within the same area, not wanting to disrupt their family life. Patryk says: “When we started our search, many options were out of reach. Matylda would have had to change schools, and our commutes would be unmanageable. Then we discovered Bracebridge Manor and were so pleased to see that there were Shared Ownership opportunities available. We instantly knew it was the perfect place for us. Not only is it convenient, but the development is also beautifully designed, with our home offering views of stunning countryside and farmland. Matylda can take a school bus from here, Kaya works at the University of Lincoln, which is just a seven-minute drive away, and I work for the County Council with only a 10-minute drive into the city centre.”

Patryk says: “Shared Ownership didn’t just help us onto the ladder, it enabled us to climb the next rung! Now we are in our dream home. We think more people need to understand Shared Ownership and how it can provide a great solution, it has really helped make our dreams of our family home come true.”