Celebrating one year at The West Village

Barratt Thames Valley is celebrating the first anniversary of The West Village, its flagship development in Portman Road, Reading. To mark the occasion, the housebuilder hosted a festive community event at the scheme on Wednesday 26th November, attended by The Right Worshipful the Mayor of Reading Councillor Peter Beard.

Making a special guest appearance was Father Christmas with his sleigh, elves and real reindeer. Guests, residents and the local community enjoyed carol singing around the Christmas tree and delicious seasonal refreshments.

The West Village, located next to Tesco, is part of the major regeneration of the town centre, transforming the area into a vibrant new living quarter. The 435-home scheme includes a contemporary mix of one and two bedroom apartments and two, three and four-bedroom houses, including affordable homes which will be available through shared ownership; plus homes to rent which are being managed by the James Butcher Housing Association.

The first residents arrived a year ago and to date more than 300 people have moved in at The West Village.

Michael O'Leary, managing director at Barratt Thames Valley, says: "The West Village is looking well-established, with a wonderful central green and children's play park in Battle Square. We are looking forward to another successful year, with our build programme on schedule."

Edith Aryee, her husband Joseph Anum, and their two children Abigail (13) and Roberta (11) purchased a three-bedroom house at the development in December last year and moved into their new home in January.

At first Edith thought they wouldn't be able to buy at The West Village: "We were in a desperate situation. Our landlord wanted his house back and gave us just one month's notice to leave. Christmas was approaching and we had nowhere to go. I called some letting agents but then one day I was walking past Barratt's development and noticed the sign advertising the homes. The sales office was open so I thought I'd take a look.

"When I saw the prices, I just thought there was no way we could afford to buy here. Joseph is a fork lift driver, and I'm a trainee nurse, however, sales negotiator Karen Taylor was wonderful; she showed me the different ways to buy at The West Village and said we qualified for the Dream Start deal. I am so glad Karen encouraged us as this was the ideal solution; it meant we could own our own home and not need to rent anymore."

Dream Start allows buyers to buy a new home for just 75 per cent of the price. Barratt will pay the other 25 per cent through a deferred loan. Some lenders will even accept Barratt's 25 per cent share as the deposit.

Michael O'Leary adds: "This is your home, you own 100 per cent of it, but you only pay 75 per cent of the purchase price now. There's no interest or rent to pay on the other 25 per cent for up to ten years or until you sell the property, whichever is sooner."

Edith adds: "Barratt was so kind to us, even paying for our rented accommodation until we could move in to our new home at The West Village. We were also given a wonderful food hamper on Christmas day."

Other incentives available at The West Village include MyChoiceHomeBuy, a government-supported scheme aimed at people with a household income of between £20,000 and £60,000, but who have no deposit. Here, the buyer takes out a regular mortgage from any participating bank or building society. The remainder of the balance, up to a maximum of 50 per cent, or as little as 15 per cent, is then provided by an equity share loan, provided by the Government through the MyChoiceHomeBuy scheme, subject to eligibility through their local HomeBuy Agent.

A low monthly interest charge of up to 1.75 per cent is payable per annum on the Government loan. The loan is paid back when the home is sold or the buyer has finished paying the mortgage. They can also repay early in one go, or in stages.

Part exchange is also available, where Barratt will buy your existing home allowing you to move into a new one at The West Village.

Barratt is also offering a fixed price guarantee on your new home for three years; should you wish to sell your home during the next three years but find its value is less than you paid for it, the housebuilder will refund the difference.

Michael O'Leary says: "I would encourage anyone wondering if they can afford to buy a new home at The West Village to talk to our sales staff who will be able to advise if there is a purchase scheme to suit their personal circumstances."

Prices for two-bedroom houses start from £225,000, three-bedroom houses from £318,000.

For information about the private homes for sale, and to see if you qualify for any of the special deals available at The West Village, log on to Barratthomes.co.uk.

For information on the affordable homes for sale by shared ownership please contact Southern Housing Home Ownership, email sales@shho.org.uk. For further information on the affordable homes for rent, contact Reading Borough Council at Reading.gov.uk/housing.