Low deposit for first-time buyers at Hazel Walk, Newcastle

Barratt North East is urging first-time buyers not to miss out on the opportunity to move into a home of their own with just a £4,680 deposit at Hazel Walk in Newcastle upon Tyne.

The housebuilder has been allocated extra funding through the Government-backed FirstBuy initiative, giving potential purchasers another chance to buy at the lowest possible cost.

Sales director Fenton Hewitt said: “The original FirstBuy scheme has now finished but we’re delighted to have been awarded additional funding, which is great news for first-time buyers on Tyneside.

“From their point of view, it represents an outstanding opportunity to take their first step on the housing ladder.

“Any household with a combined income of up to £60,000 is eligible for the scheme, so I would urge anyone interested to contact us as soon as possible.”

FirstBuy is available at Hazel Walk, where Barratt is building homes from its latest Classic Range of designs for the first time in the North East. The scheme brings the move-in price of a two-bedroom “Newton” terraced home at the development down from £117,000 to just £93,600.

This stylish and practical home has a comfortable living room, contemporary dining kitchen with French doors into the rear garden, two double bedrooms and bathroom, and plenty of extra storage.

Three showhomes are open daily from 10.00am to 5.00pm at the development, which is conveniently located with Kingston Park shopping centre nearby and the city centre is a short drive or bus ride away.

FirstBuy is an equity share scheme. A loan of up to 20 per cent of the price of the property is jointly funded by Barratt North East and the Government’s Homes and Communities Agency. Buyers then have to find the remaining 80 per cent of the price themselves, made up of the mortgage and deposit.

For more details, visit barratthomes.co.uk.