Barratt promotes ‘Parent Power’ on the Isle of Wight

Barratt on the Isle of Wight is offering to match any financial contribution that parents make to help their children buy a place of their own.

Under Barratt’s Parent Power scheme, any parental contribution is matched up to five per cent of the purchase price. That equates to a Barratt contribution worth up to £5,000 on a £100,000 home.

The offer comes at a time when First Time Buyers are struggling to climb onto the housing ladder without a helping hand from the Bank of Mum and Dad.

Some 57 per cent of parents say that they would help their children buy their first home, according to a YouGov survey for the National Homes Marketing Board. It also found that the majority of children would not be able to afford a property without this help.

“Everyone welcomes a helping hand when they’re buying a new home – especially when it’s their first step on to the property ladder,’’ said Mark Docherty, sales director at Barratt Southampton.

“Parent Power is a great initiative that can solve a real hurdle for young people eager to be independent and own their own home.’’

“The extra cash Barratt is offering could be put towards the deposit or used in some other way, for example buying carpets or furniture.”

He added: “Barratt can also introduce you to specialist advisors including mortgage experts who can help secure the best deal for an individual’s circumstances.”

Homes currently available from Barratt Southampton on the Isle of Wight include Hawthorn Meadows in Whippingham and Nautiqua in Cowes.

For further information on current availability visit barratthomes.co.uk.