Family Gets A Foot On The Property Ladder With Innovative Scheme

Published by Michele for Orbit First Step in Housing

An East Sussex family has finally got a foot on the property ladder after a difficult few months that have seen them moved out of their rented house after it was deemed to be an unsafe place to live, and then having to live with their extended family in cramped conditions for six months.

Thanks to Orbit First Step and the innovative Rent to HomeBuy scheme, Mick and Julie Ashdown and their three youngest children – aged from 10 to 14 years – are now living in a brand new three-bedroom home at the Regency Fields development in Seaford.

The move is more than they could have wished for, as Mick - a bus driver for Brighton & Hove Bus & Coach Co - explains. “We were initially living in rented accommodation but the electrics were questionable and when it rained hard, the water came through the walls. It was totally unsuitable for a family with young children and my family’s health and safety was at risk. We were asked to leave so that repairs could be carried out and we returned to live with my parents. It wasn’t ideal for any of us, but luckily we are a close family and we made the best of it.”

The situation couldn’t continue long term though, so it was a huge relief when the family went along to an open event held by Orbit First Step at Regency Fields and discovered to their delight that they were eligible for one of the properties. “We looked at several properties and found a 3-bedroom house that we really liked. We had a comprehensive chat with an independent financial advisor - Mark Singleton - while we were there. He took details of our incomings and outgoings and worked out that we could comfortably afford the house through the Rent to HomeBuy scheme. “

The scheme enables people to move into the property they want to purchase straight away as a tenant and pay a discounted rent – saving 20 per cent against the current market rental rate. While they are renting, they are encouraged to save for a deposit – which is a major hurdle for first time buyers. Part of the Orbit Group, Orbit First Step will even match the savings buyers put forward – effectively doubling the level of deposit they can put down on the property.

At any time within a three year period, they can then purchase the property under the terms of the New Build HomeBuy (part-rent part-buy) scheme – buying shares from as little as 25 per cent, which they can increase at any time until they own the property outright. Terms and conditions apply.

Mick continued: “A month after the event, we had moved in and we love it here. We’re close to all our family and friends and it’s a lovely location. I can even look out of the window across the South Downs and see sheep in the surrounding fields! It’s such a relief to know that we’re now on our way to owning our own home; what we are saving in rent, we are putting into the bank every month towards our deposit and we’re looking forward to purchasing it in a few years. We don’t look at it as a rental property, we already consider it as ours and that’s such a fantastic feeling. It’s a great scheme and we’ve already recommended Orbit First Step to friends who are also finding it difficult to buy right now. The team were really helpful and this scheme has helped us change our lives for the better.”

One 3-bedroom house and three 4-bedroom houses are still available through Orbit First Step at Regency Fields. They can be purchased now through the New Build HomeBuy scheme from just £61,250 for a 25 per cent share. Alternatively, they are available under the Rent to HomeBuy scheme with the monthly rent currently starting from a competitive £680.

For further information, please contact Orbit First Step on 0345 850 2050 or visit www.orbitfirststep.org.uk.