We live in Britain’s ‘cheapest estate’ after buying homes for £1 – it’s like an old-fashioned neighbourhood, we love it
RESIDENTS of Britain’s cheapest housing estate have told how they love living in their “old-fashioned” neighbourhood.
More than 200 wannabe homeowners have been able to snap up a home for just £1 on the £34million Marches estate in Wolverhampton.
The development is selling two, three and four bedroom homes under a help-to-buy scheme, which then allows residents to purchase them after renting for 25 years.
As part of their plans they can build up a loyalty premium, and then buy their home for just £1.
Maria Turner, 59, and her husband Kevin, 57, have waited a very long time to own their home.
She said: “We have always lived in council houses and this was the only way we were ever going to be able to get on the property ladder. I wish we could have done it years ago.
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“We have done it for our daughter because she is 22 and it is something we can leave for her.
“We love it round here. It is like a old fashioned community and everyone is really friendly.
“You don’t feel isolated because everyone is in a Facebook group so there is always someone to answer any queries.”
Steelworker Blake Farrington, 30, and wife Kayleigh also jumped at the chance to snap up one of the cheap homes.
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He said: “I really didn’t think I would stand a chance because my credit rating is not the best. But I applied and was accepted. Now we are married and have our own home.
“It is a very good scheme for people who want to buy a house. When you apply, it is like applying for a mortgage and it is like having a long term lease.
“The homes are all built for modern living with a car charging point and solar panels on the roof to reduce your energy costs.
“What we like a lot is that we are at the far end of the development so it is really quiet. It is not a through road so you see children playing in the street.
“On a lot of council estates, you don’t really want to let your children outside but they have made this a really pleasant location.’
Blake and Kayleigh’s monthly rent for the two-bedroom property is £805, meaning they would pay £241,500 over 25 years before being able to pay an extra £1 to complete the purchase.
Blake said: “It feels like you are investing in your own future rather than paying for someone else’s.”
The scheme is specifically aimed at key workers and over 40 per cent of those living on the new estate fall into that category.
Zoe Bartlett, a mother-of-three who works for the NHS as a bio-medical scientist, said: “I never thought I would be able to afford my own home because of the deposit. I was living with my Mum and there just was not the space.
“I applied to the Council but only heard that I was number 300 on the list so thought my kids would be grown up before we could get our own place.
“When I heard about this, I honestly thought it was a scam but it is just brilliant. I would pay £1000 to rent a three-bed house anyway so I am paying that now but it is like a mortgage because one day I will own it.”
Meanwhile, carpenter Chris Knight, 29, moved onto the estate last year with his accountant girlfriend.
He said: “I think we got the best property on the estate. It is an end of terrace and it looks out over the pool. It is just lovely round here.”
The homes are in the style of town-houses, and many are quite narrow with three storeys.
A lot of them come with their own balcony and others have flat, terrace-style rooves so people can entertain on the roof-tops in the summer.
Claire Campbell, 42, a mother-of-five, thought she was doomed to pay for other people’s mortgages for the rest of her life before she heard about the ‘Help to Own’ scheme.
Now she and her husband have a three-bed property and life is no longer quite such a squeeze.
“We have converted one of the living rooms upstairs into an extra bedroom and it is working out well. There should be a lot more schemes like this.’
Claire, who has been with her husband for 10 years, said she never thought home ownership would happen, although there are some restrictions.
“You can’t change a carpet without asking for permission and we are all a bit worried by how much they will put the rent up by next year but at least it offers a sense of security.
“We have to pay for wear and tear but they will service the boiler and you are allowed to have pets.
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“The neighbours are really friendly and there is a Facebook group which gives you a sense of being part of a community.
“Parking can get a bit tricky when you have friends over but it is a lot quieter than where we lived before and a much better atmosphere.”
