New homes in Bristol for just £155,995

Barratt has joined forces with English Partnership to offer first time buyers their best opportunity ever to move into a new home at The Zone in Bristol. The housebuilder has set aside 40 homes to be sold under this government-backed scheme at The Zone with homes set to cost from £155,995.

The First Time Buyers’ Initiative has been launched to make home ownership a reality for those who might otherwise not be able to afford to buy.

By increasing the supply of affordable homes for first-time buyers, FTBI will contribute towards achieving the target of helping 120,000 people onto the housing ladder through shared equity schemes recently announced, and now being launched at developments such as The Zone in Bristol.

It is similar to a shared equity scheme in that English Partnerships retains an entitlement to a share of the future sale proceeds after providing assistance to the buyer to purchase the property.

What is different is that buyers will not have to pay any charges on the percentage contributed by English Partnerships and will enjoy full ownership rights.

After living in the home for three years, buyers will pay a monthly fee to English Partnerships based on the agency’s remaining entitlement. FTBI home-owners can move up to full ownership by making additional payments (minimum 10% of the market value), that will reduce English Partnerships’ entitlement to a share of the future sales proceeds and the monthly fee payable by buyers, at any time.

First time buyers who meet the application criteria can now reserve a home in the latest phase of development at The Zone where properties include the innovative city-pads together with one and two bedroom apartments.

Once complete, The Zone will have 407 units - a mix of apartments and townhouses and as part of Barratt’s commitment to a better lifestyle, there will also be a fully fitted gym for residents as part of the latest phase.

The Zone is located close to the multi-million pound redevelopment of the Broadmead Shopping Centre, the existing bustling business district of Temple Quay, the proposed new Bristol arena and Temple Meads Station. Whether shopping, working, socialising or commuting – everything you need is just a 'stone’s throw' away.

Potential FTBI buyers can register their interest by logging onto Barratthomes.co.uk.