New apartments released at Monarch's Gate

House hunters in the West Midlands who thought they had missed the boat to buy a brand new home at Barratt West Midland’s Monarch’s Gate development now have another chance to find the home of their dreams following the release of 11 new apartments.

Monarch’s Gate which is situated on King Street in Wednesbury has been a hit with buyers in the area and many of those who missed out the first time round will be pleased to hear that a selection of new two-bedroom apartments have now been released for sale.

The two-bedroom Knighton ad Langley style apartments are priced from just £100,950, making them the ideal home for first-time buyers, professionals and couples alike.

Graydon Worthing, Sales Director for Barratt West Midlands explained, “Monarch’s Gate has proven to be a very popular development with homebuyers due to not only its excellent location but also the selection of properties available.

“Many buyers in the area were disappointed when all the apartments sold out the first time round, so I am very pleased to say that the new phase of 11 apartments have now been released for sale. This means that all of those buyers who missed out the first time round will now have another chance to snap up one of these fantastic properties.

“With prices starting from just £100,950 and with the opportunity to use the new Homebuy Direct scheme, lucky purchasers could move into these apartments for as little as £70,665. This is superb value for money and I’m sure these apartments will prove to be just as popular as the rest of the development.”

HomeBuy Direct is a new Government scheme offered by Barratt. Eligible homebuyers could receive up to a 30 per cent equity loan on the value of their 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 division 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 Knighton and Langley style apartments are the ideal home for young professionals and couples alike. The properties comprise an open plan living and dining room, separate kitchen, en-suite to the master bedroom, second double bedroom and main bathroom.

Monarch’s Gate is situated a two minute walk from Wednesbury town centre, directly opposite the Fire station, and only 12 miles from Birmingham city centre which offers a great selection of high street and designer shops, bars, clubs and restaurants. The M6 and M5 motorways are also within easy reach, meaning that Monarch’s Gate is an ideal development for those who need to commute to other areas of the Midlands.

Monarch’s Gate also has three, three-bedroom houses available priced from £151,450. For more information, log on to barratthomes.co.uk/monarchsgate.