WANNABE homeowners have praised a new scheme which means residents can buy their properties for just £1.
Almost 300 homes are available as part of 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 – with 100 of the homes being under the scheme.
Tenants can take their premium as cash if they leave the scheme within the first 20 years.
Construction giant Willmott Dixon is building 266 homes, with some still under construction, and other have already moved in.
New resident James Taylor, 26, moved in with his partner and daughter in November 24 after being accepted onto the help-to-buy scheme.
The engineering supervisor told BlackCountryLive: "We like it. Obviously, during the day, it is a bit rowdy with the building going on.
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"Other than that, at weekends it is quiet. It is a nice area, you don't get or hear of any trouble."
"We like the design, it is one of the reasons why we went for it. Although it is about narrow, there is a lot of space as we have three-storeys."
Another resident, 34, moved in with his wife and child at the end of November on the help-to-buy scheme.
The data services manager for Amazon said: "The estate is nice, we came in quite early, we are still having the building work done.
"The neighbours are pretty friendly."
Tim Perry, 31, moved into his property with partner Aaron Parsons, 32, on the help-to-own scheme in October.
Mr Perry said: "It is our dream home. It has been nice living here to be fair, there has been a nice community spirit going on, everyone has been coming together peacefully."
He added: "I like the appearance of the homes, there is a decent amount of space inside."
The Help to Own scheme has been set up specifically for hardworking people and families who have struggled to save a deposit to fulfil their dream of owning their own home.
The scheme is also aimed at helping key workers get on the property ladder.
'ACCESSIBLE SCHEME'
Under the scheme, more than 41 per cent of the homes will have a key worker living in it.
West Midlands Mayor Andy Street said: "This makes home ownership more accessible to people and that has got to be a good thing.
"Here, it is about local people, key workers moving into these new elegant homes and actually being able to, in time, own time.
"I think this scheme is needed more. People perhaps starting off in jobs will find it really hard to get on the housing ladder, and that gets more difficult as prices go up.
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"This makes it more accessible, it is a good scheme, and I hope we can have more across the region."
Councillor Stephen Simkins, cabinet member for economy, added: "We put the lion's share in this, nearly £5.5million worth of investment, followed by the commitment that came from the West Midlands Combined Authority and also the finance company that helped us deliver this."
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