New home is Bev’s best birthday present ever

Following a relationship breakdown, many former homeowners can find themselves in the same situation as a first time buyer, facing the same difficulties in raising a deposit and securing a mortgage to fund a new home. This is exactly what happened to Bev Lloyd who fell off the property ladder after separating from her partner.

She initially rented a house for herself and her eight-year-old daughter through a private landlord but was concerned this might not provide a long-term housing solution. As a result, Bev had applied for a local authority property with a view to providing a more secure home but was not classed as a priority as she was managing to cover the cost of her monthly outgoings from her salary as a fundraising administrator with East Anglia’s Children’s Hospices.

“I didn’t think I had any option but to continue renting,” said Bev. “I’d heard about part-rent part-buy schemes before but didn’t think I would be eligible for a mortgage so I hadn’t pursued this until my friend showed me an advert for an Orbit First Step open day at their Blenheim Grange development in Carbrooke, Norfolk. I went along out of curiosity more than anything and when I fell in love with one particular house I never dreamt I’d be able to afford it.”

Attending the open day was the best move Bev could have made. After talking to Sales and Marketing Officer, April Tatlow, and Ian Minns, an independent financial advisor from St Andrews Financial Planning who had been invited to the event, she discovered she was able to purchase a 25 per cent share of the property through the New Build HomeBuy scheme and pay a discounted rent to Orbit First Step on the remaining share. This made the property much more affordable than her rented home, and it was hers. She was delighted.

“I'm going to be 40 this year so my new house is the best special birthday present that I could ever have wished for,” she said. “Finding out that I could buy my perfect house after all seemed too good to be true; I even got a cashback incentive on completion which was invaluable as it paid for my legal fees and meant that I could fix a rate on my mortgage for added security.

“I now live in a fantastic new house, with an enclosed garden within very easy reach of my daughter's school and with very good friends close by, and even though we’ve only recently moved in, it already it feels like home, I know we're going to love it here.”

Bev added: “I would highly recommend the scheme, and Orbit First Step, as I never dreamt that I would be able to afford a share in a brand new home. Going to the open day meant that my life changed completely in the space of a couple of months and I can hold my head up knowing that I can provide a stable, more secure home for our future. Also, it’s great to know that with the money I save each month, I can save up to purchase further shares in the property in the future and eventually own the house outright.”

Additional two-bedroom houses are still available at Blenheim Grange, with prices starting from just £26,000 for a 25 per cent share, along with properties at other Orbit First Step developments in Norfolk and Suffolk.

Visit orbitfirststep.org.uk for further information.