A NEWBUILD estate where people can buy mod-con homes for just £1 is so popular the residents never want to leave.
First-time buyers have swooped to bag bargain houses at the “dreamy” £34million Marches development in Wolverhampton, with 10 would-be homeowners fighting it out for every plot.
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A total of 100 two, three and four-bed homes have been snapped up under the Help to Own scheme, where residents rent for 25 years before purchasing for a quid.
And properties are so in demand, even the show home has been sold off.
Inside the modern estate, where houses come with solar roofs and electric car charging points, wannabe homeowners have told how they are loving life in their very own “Poundland”.
Retail worker Tim Perry, 31, and his partner Aaron Parsons, 32, pay £750 a month for a two-bed home with a 100ft back garden.
Factory worker Aaron said: “The house is worth £140,000 – and there just wasn’t a chance that we could find £14,000 for a deposit.
“Instead we pay rent and then at the end of it, we own the house. It’s brilliant.
“We thought it was too good to be true – but it’s not.
“It’s the house of our dreams.”
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Mum-of-four Fran, 29, faced eviction from her home in Wolverhampton when her landlord decided to suddenly sell.
She was on the cusp of homelessness before being offered a four-bed home under the scheme.
She pays £1,100 a month in rent – but has vowed to ultimately own the £300,000 home.
Fran said: “I was on my hands and knees crying when they told me there was one house left.
“There are ten people bidding for every house that becomes available. It’s the only way many young people can get on the ladder.
“I wish I could find whoever agreed to sell these 100 homes so I could thank them.
“They have changed my family’s life. I will never move out of here.”
‘IT’S A DREAM COME TRUE’
The Help to Own scheme was set up specifically for hardworking people and families who have struggled to save a deposit to fulfil their dream of owning their own home.
As part of their monthly payment plans, they build up a loyalty premium which can either be taken back as cash when they leave, or used as a deposit after 20 years.
And on your 25th anniversary, you can buy your home for £1.
Mark Campbell, 50, grew up on a council estate before moving into The Marches last year.
He said: “It was really rough. It wasn’t the greatest place to live.
“This is so different. It’s quiet and everyone is lovely.
“I would never have been able to buy a home in the conventional way. It’s a dream come true.”
I will never move out of here.
Mum-of-four Fran
Under the scheme, there is no traditional deposit and just a £1,000 application fee.
Unlike strict rent contracts, residents are allowed to decorate and maintain their houses as a homeowner would – and pets are allowed.
Plus there are no penalties for leaving the scheme provided three months’ notice is given.
Retail worker Alan Lowe, 28, who moved in last May, said: “We were the first street in.
“The houses are really good. We’ve had no trouble whatsoever.
“My mum and partner were a bit sceptical about it being a newbuild but we couldn’t have wished for anything better.
“Previously we were renting for £500 a month and it was just chucking money away.
“Honestly, we’ve landed on our feet. The neighbours all seem great.”
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