A new 2-bedroom Barratt Home for £347 a month at Thornaby

Mortgage repayments on a brand new two-bedroom home at Mandale Park in Thornaby could be as little as £347 a month, says Barratt North East.

The housebuilder has an ‘Ashford’ terraced house from its new County Range available at the development, which is ideal for first-time buyers.

It offers 640 square feet of comfortable living space. There is an open-plan living and dining room with French windows leading to the rear garden, a contemporary kitchen with quality appliances, cloakroom, two double bedrooms and bathroom.

The Ashford is priced at £105,000 and is available through the Help to Buy scheme, which enables buyers to move in with a deposit of £4,200 and a 75 per cent mortgage*.

The remaining 20 per cent is met by a Government loan which is interest free for five years.

“The Ashford is a terrific first home, which offers outstanding value for money,” said Fenton Hewitt, Sales Director.

“And with Help to Buy, the monthly mortgage repayments could be cheaper than paying rent. Because buyers only need a 75 per cent mortgage, they can get a loan at a lower interest rate.

“The scheme is giving a real boost to buyers locally, as they realise they can not only buy with a significantly lower deposit, but can also access low-cost mortgage finance.”

Mandale Park is a popular development in a convenient location with schools, shops and leisure amenities nearby. There are good bus services and the development is also within a few minutes’ drive of the A19.

For more information, visit barratthomes.co.uk.

*Ashford Plot 240: £105,000. Deposit £4,200, mortgage: £79,800. Monthly repayments: £346.97. 25-year mortgage, two-year fixed rate of 2.34%. £180 survey, £99 booking fee, £400 arrangement fee. APR: 3.9%.