Share the cost of a new home with Barratt

Would-be homeowners who are holding back from buying their dream property because of the strain on their monthly outgoings can rely on Barratt North Midlands’ equity share options to reduce their mortgage.

At the housebuilder’s two Lincolnshire developments – Riverside Walk and Squires Court- potential buyers can take advantage of two separate equity share deals to ease the tug on the financial pocket strings. Dream Start and Head Start both offer people the chance to purchase 100 per cent of their home for a reduced percentage of the price – the housebuilder pays for all or part of the remaining percentage with a deferred loan.

With Dream Start, homebuyers pay 75 per cent of the price of the property, whereas Head Start gives the option of paying an 85 per cent share of their chosen home. The remaining 25 or 15 per cent are covered by Barratt through a deferred loan, which is repayable after 10 years or when the house is sold if sooner.

For example, at Barratt’s Riverside Walk development on North Gate in Newark, three- bedroom homes start from £134,995, but under the two equity share schemes a buyer would pay £101,246 on Easy Start and £114,745 on Head Start.

James Poynor, Sales Director for Barratt North Midlands, said, “These two shared equity options are fantastic solutions for families looking to move to a bigger home.

“It means current homeowners who are desperate to upgrade to a bigger home because they need the space may find that they are now able to afford to do so.

“Many buyers also find that they no longer require a deposit with the shared equity offers, because part of the Barratt loan may be taken as an alternative by mortgage lenders.”

Homes currently available from Barratt North Midlands in Lincolnshire include:

Riverside Walk, Newark
This development is deal for families with three- and four- bedroom properties on offer. Prices start from £134,995.

Squires Court, North Hykeham
An exclusive collection of four- and six- bedroom homes. Prices start from £229,995.

For more information, log on to Barratthomes.co.uk and enter the development name into the ‘Go to a development’ section of the website.