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Chance of a brand new nest for first time buyers on the Isle of Wight

17th May 2012 Print

Buyers from across the island are turning to leading housebuilder Barratt for their first venture into the property market.

The housebuilder is celebrating a number of sales at its island developments under the innovative FirstBuy scheme which is designed to help potential buyers secure the finances required to become homeowners.

However time is running out for first time buyers on the island to take the perfect route into the property market and a special event in Newport on Tuesday May 15 will give potential buyers all the information they need to take advantage of this scheme.

"We understand how difficult it can be to overcome the seemingly impossible financial hurdles in place when buying that first home - and that is why we have been offering FirstBuy at Pan Meadows in Newport and Hawthorn Meadows in Whippingham," senior sales manager Zak Long.

Under FirstBuy, qualifying buyers are offered a loan of up to 20 per cent of the price of the property, jointly funded by Barratt and the Government's Homes and Communities Agency.

Buyers then only have to find the remaining 80 per cent of the price themselves - including the mortgage and deposit which could be as low as £6,000 at Pan Meadows.

"We have helped many first time buyers move into their own homes here on the island," said Zak. "But the scheme has proved so popular that funds are now running low and we are keen to help as many people as possible climb onto the property ladder before FirstBuy ends.

On Tuesday a team of experts will be on hand at Olivos, St Thomas' Square in Newport from 4-7pm to help potential buyers find out how easy it can be to become a homeowner with FirstBuy.

For details of availability at Barratt developments, visit