Four beds for less in Telford

Barratt West Midlands is giving homebuyers the fantastic opportunity to move into a brand new four-bedroom home for just 70 per cent of the price at its Monarch Fields development on Station Road in Donnington, Telford.

Plot 47 is a four-bedroom, three-storey Kensington style home priced at £195,750 but with a new scheme from Barratt West Midlands and the government called HomeBuy Direct, one lucky purchaser could move into this particular property for just £137,025.

Purchasers who are able to take advantage of HomeBuy Direct will receive an equity loan of 30 per cent of the property’s value which is jointly funded by Barratt and the Government. The remaining 70 per cent is then funded by the purchaser either with a deposit, mortgage or a combination of the two.

Graydon Worthing, Sales Director for Barratt West Midlands commented, “It can sometimes be a struggle for first-time buyers to get onto the property ladder, but we at Barratt West Midlands are committed to helping this group of purchasers buy their first home, and HomeBuy Direct is a fantastic scheme for any buyer who is dreaming about owning their very own home.”

Paul Spooner, HCA regional director for the West Midlands region of the Homes and Communities Agency, said: “In the current climate it’s important that we help a range of people to find the best housing option to suit them, and simultaneously help stimulate the building of new homes. HomeBuy Direct, with our £400 million investment, is just one way in which we’re doing this and it is proving extremely popular.”

The Kensington style home is laid out over three floors, meaning that the property provides ample space for a growing family. The open plan kitchen/breakfast room, w/c and integral garage sits on the ground floor. The spacious living/dining room, two well-proportioned bedrooms and shower room are situated on the first floor while two double bedrooms, main bathroom and en-suite to the master bedroom are found on the second floor.

Graydon continued, “This is a fantastic opportunity for one lucky purchaser to snap up this fantastic family home at an amazing price and I’m sure it will be snapped up very quickly indeed and homebuyers should hurry so as not to miss out.”

HomeBuy Direct is open to First Time Buyers, key workers and others who are currently renting. People who have previously owned a home but are now unable to do so – perhaps where relationships have broken down – can also apply. Households eligible will be earning less than £60,000 and would not normally be able to afford to buy a suitable property on the open market.

There is no interest to pay on the equity stake for the first five years, although a small fee will be charged from year six onwards. Buyers can redeem the loan in instalments, purchasing up to 100 per cent of the equity after their initial purchase by buying additional equity at the market rate. Alternatively, if they sell their home, the equity loan is repaid by way of a proportionate share of the sale proceeds.

Monarch Fields is ideally located just a few minutes drive from Telford town centre which offers a wide selection of amenities. The main shopping centre, for example, boasts over 160 high street stores. There is also an abundance of cafes, restaurants, an ice skating rink, ski centre and cinema complex, which is sure to suit all tastes.

Monarch Fields also offers a selection of three, four- and five-bedroom houses priced from £176,500 - £292,500. For more information, log on to barratthomes.co.uk/monarchfields