Houses for a pound in Black Country Help to Own scheme
A new Help to Own scheme is giving families the option to buy their homes for just a pound after their leases are up.
The Marches development in Wednesfield by WV Living is one of the first developments to offer the new "Help to Own" scheme, helping people make the dream of owning a home a reality.
"Help to Own" provides the opportunity for local people to get on the property ladder without a deposit and buy their home for £1 on expiry of their lease.
The 250-house development has 100 two, three and four-bed homes under the scheme, allowing residents to rent a modern house with solar panels and electric car charging points and pay a monthly rent over a 25-year period.
Houses were still being built on the Marches development, but a large number of houses had been taken up by families and people looking to live somewhere without the worries of a mortgage or a deposit.
Zoe Turner was one of those who said she was attracted to the scheme and said the house was perfect for her, her husband Aron and her children.
She said: "I think it was the scheme that attracted us to this place more than anything as it took us out of our renting situation and it was another way onto the ladder without having to get hold of the deposits.
"The house is really nice and a lot bigger than you'd expect for a new build, as well as having clean walls and being very modern, plus it's close to Wednesfield where we lived before hand.
"The mixture of people around here make it good as well and I think the scheme is a good idea which will work well elsewhere."
Further down Vincent Southworth Drive, where some of the houses are based, Samantha said she had been attracted to the scheme by becoming a homeowner with no deposit.
She said: "I'd seen the scheme advertised on Facebook and scrolled through it and just applied as they could tell you what house you could afford, so was worth going for it.
"They made it easy as you look at the show home, then choose what you want from a floor plan, following what you can afford.
"It's such a nice area though, with lovely neighbours and I think a 25-year-lease works as I can settle down and my children don't have to worry about moving, so we have that freedom to live for the next 25 years."
Anthony Davis was another person who said the scheme had appealed to him as he and his wife Rachael were unable to pay a deposit, despite being able to afford a home.
He said: "We can afford the mortgage, but we would struggle to get £25,000 for a deposit as we have children, so we were living in Penkridge in rented accommodation when Rachael saw this scheme and we realised how good it was.
"It's like renting, but you get the house and you get to treat it as your own place at the end of it and it's nice to have something for the kids at the end of the day as we're not having to rent forever.
"The house is great as well as we have our own balcony, a lovely big garden and the kids are in the nearby school, so I think the scheme is a brilliant idea as it's given us our own home ultimately."
Mark Campbell said he had lived on a council estate previously and found the new builds to be a much better and much more comfortable place to live.
He said: "This is so different, as it's quiet and everyone is lovely.
"I would never have been able to buy a home in the conventional way and it's really a dream come true."
To find out more about the scheme, go to wvliving.co.uk/developments/the-marches.html.
