New opportunities for buyers at Monarch’s Gate

Home buyers in Wednesbury now have an exciting opportunity to find their dream new home after a brand new phase of apartments were recently released for sale at Barratt West Midlands’ Monarch’s Gate development on King Street.

A selection of 12, two-bedroom Langley and Knighton style apartments have now been released for sale, and with prices starting from just £100,950, there really has never been a better time to buy.

All of these properties are available to buy with Barratt’s joint Government scheme called HomeBuy Direct which allows purchasers to receive a 30 per cent equity loan of the value of the property. This means lucky buyers pay just an initial 70 per cent of the price of their new home and could move into one of these homes for as little as an amazing £70,665.

Graydon Worthing, Sales Director for Barratt West Midlands explained, “There are so many benefits to these particular properties. Firstly their fantastic location, just minutes from Wednesbury town centre which offers a wide selection of shops and amenities. Secondly, not only are they superbly priced but as part of our ongoing commitment to helping first-time buyers on to the property ladder, we are also offering homebuyers the chance to use the HomeBuy Direct initiative making the homes even better value for money.

“What’s more, these particular plots are available to buy off-plan, thus allowing purchasers the chance to customise the apartment and really make it their own without any of the hard work. For example, buyers can choose their kitchen units and bathroom tiling. Not only this, but by buying now, they can also ensure that they get the best pick of the plots and have plenty of time to plan the move.

“So why not come along and speak to one of our sales advisors today and see just how easy it could be to find a dream new home.”

The scheme 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.

Paul Spooner, 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 Langley and Knighton style apartments both comprise living/dining room, separate kitchen, en-suite to the master bedroom and a second double bedroom.

Monarch’s Gate also offers a selection of three-bedroom houses with prices starting from £151,450. For more information log on to Barratthomes.co.uk/monarchsgate.