Once they reached their mid-twenties, Beth Cook, a nanny, and her partner Tom Laland, a production engineer, decided that the time was right to get a place of their own.
Keen to move out from their parents’ homes in Hitchin, Hertfordshire, sooner rather than later, it didn’t take them long to work out that their budget wouldn’t stretch to buying the size of home they wanted locally.
The logical step was to expand their search, which led them a few miles north to Annington’s Mayflower Park development in Henlow, where they were able to afford a newly refurbished three-bedroom house.
With nearly 40,000 homes in its portfolio, Annington is one of the country’s largest private owners of residential property. The majority are detached, semi-detached and terraced houses, which are leased to the Ministry Of Defence and rented to military families.
When these are no longer needed by the MOD, they are refurbished and sold on the open market at competitive prices. They’re often larger than average, have decent-sized gardens and are close to transport links.
‘We were looking for a two or three-bedroom home that was within budget yet still close to our families and friends as we were quickly becoming priced out of the market in Hitchin,’ explains Beth. ‘We looked at the pros and cons of moving slightly further away, and it quickly became apparent that living in Henlow would only enhance our quality of life.’
After saving for two and half years the couple were able to put down a ten per cent deposit.
‘We were so excited to find out we could afford to purchase a home instead of renting as we didn’t want to waste our money,’ adds Tom. ‘Annington put us in touch with a mortgage adviser who was really helpful and gave us all the information we needed.
‘When you’re a first-time buyer it’s quite a scary process, especially as we’ve never made a purchase quite this big before.’
Now they’re in, the couple plan to stay put for a long time to come. ‘We’ve been together for six years and we’re ready for the next step. It was important to find a home that could accommodate a growing family but also had access to good schools,’ says Beth. ‘It’s perfect for us. I don’t think we ever thought we could get a spacious and high-quality home with a large garden within our budget. I can’t believe we own it.’
For now, the pair are enjoying forging friendship with their neighbours, as Beth explains.
‘It’s great to have a chance to be a part of the community being built here,’ she says. ‘Tom and I were one of the first to call Mayflower Park home and as more people start to move in it’s slowly starting to feel like we are part of something.
‘A few of us have created a Facebook group to keep in touch and get to know each other – that’s exactly the sort of place we wanted. It’s such a find: nice and quiet but close enough to walk to the local shop and the station. We are very happy with our choice.’
Do the maths
Mayflower Park is a mix of two and three-bedroom houses – previously married quarters for military personnel – close to RAF Henlow and convenient for Arlesey station, which is just 40 minutes from St Pancras International. It’s now sold out but eight, fully renovated mid and end-terrace two-bedroom houses have just been launched nearby on Nene Road, from £310,000.
This is how the figures stack up for a two-bed house…
Purchase price: £310,000
10% deposit: £31,000
Mortgage: approx. £1,591 per month
Service charge: approx. £39 pcm
Monthly spend: approx £1,630
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