Affordable homes promoted at Fieldways

First-time buyers looking for an affordable home will be spoilt for choice at Barratt's Fieldways development in Paulton, where a number of incentives are being offered to people who want to own their first property.

The developer is holding a special First-time Buyer Weekend on Saturday 18th and Sunday 19th October, to promote these incentives and the release of brand new one and two-bedroom apartments at the site.

"These new apartments are very impressive and, with prices ranging from £99,995 to £129,995, they are well below the stamp duty threshold of £175,000," reports Andrea Pilgrim, Barratt sales director.

"Despite the current credit crunch, we have some excellent packages designed to make the homes at Fieldways accessible to first-time buyers.

"These include 5 per cent deposit paid or our Head Start scheme, available on selected plots," Andrea continued.

"Under the Head Start scheme, first-time buyers secure a mortgage for 85 per cent of the total property price and Barratt finances the remaining 15 per cent for up to 10 years.

"Some homes are also available through the government's low-cost home ownership initiative," Andrea added.

"We've teamed up with Swaythling Housing, the local agent for the government's HomeBuy scheme, and buyers who qualify receive an equity loan of between 15 to 50 percent of the full asking price. This loan only needs to be repaid when the buyer sells the property.

"We are committed to providing affordable homes for people who thought it would be impossible to buy in today's economic climate. First-time buyers can learn more at our special weekend, when independent mortgage advice will be available," Andrea concluded.

When complete, Fieldways will offer a selection of one, two, three and four-bedroom homes. The development is located in Paulton, a large village to the north of the Mendip Hills, and local amenities include supermarkets, a library, schools and pubs.

The village is close to the market town of Midsomer Norton and the former coal-mining town of Radstock. The A37 and A39 provide easy links to the thriving cities of Bristol and Bath.

For further details log on to Barratthomes.co.uk.