Make the most of Barratt's new incentive

Barratt are one of Britain's largest and best-known housebuilders, over the past 40 years the company has built more than 250,000 homes in Britain. Barratt are the only major housebuilder providing homes for all sectors of the market. And in population centres like Liverpool, Barratt have been long established pioneers of inner-city regeneration.

The house builder leads the field in converting redundant warehouses, offices, schools and hospitals into new homes. Dynamic, young architects help Barratt to create spectacular one-off developments at the cutting-edge of residential design.

They work in partnership with housing associations and local authorities to provide thousands of lower-cost homes and there are always numerous incentives and deals for young people wanting to get out of renting and onto the property ladder.

One of Barratt's latest initiatives, aimed at helping first-time buyers and key workers is a brand new Government-backed scheme which will bridge the increasing gap between house prices and salaries.

"MyChoiceHomeBuy" is a new initiative for first-time buyers or anyone with an annual household income amounting to less than £60,000. Under the scheme buyers will be able to receive as much as 50 per-cent of the property sale price as a loan. This could amount to as much as £140,000.

An example of how MyChoiceHomeBuy could make home ownership affordable is that under the scheme a single person with an income of £30,000 could afford a property worth £250,000. This is possible by obtaining a mortgage on just £120,000. The buyer would need a savings contribution of £5,000 and MyChoiceHomeBuy would make up the other £125,000.

Homebuyers can pay off the loan in stages or with one lump sum, depending on what they can afford and after they have lived in the house for a year. The loan amount will be based on the value of the property at the time they want to repay the loan (in part or full) - regardless if that is more or less than when they originally purchased the property. Buyers will also pay a small monthly fee on the loan which is capped at 1.75 per-cent for the first year so that payments are manageable and predictable.

If you would love to move into a new home but have a property to sell, then ask about Barratt's Full Value Part Exchange Scheme. By taking advantage of the scheme you could be in your new home within days without having to pay estate agents' fees.

There are Barratt developments all over the North West - in Merseyside, Lancashire, Shrewsbury, Staffordshire and Wales. To find out where your nearest development is or to chat about the company's latest initiatives, including the popular first-time buyer scheme "Put £99 Down and Move In".

For more information visit barratthomes.co.uk.