Citigait bbq proves a hit with residents and visitors

Barratt celebrated the arrival of summer with a Barbecue Day at its popular Citigait development in Portsmouth recently. “Citigait is a gated development and we held the barbecue in the courtyard here,” said Mark Docherty, Barratt sales director.

“Visitors were able to talk to our growing community of residents about the benefits of living here,” he continued. “They were also able to find out more about the HomeBuy Direct scheme, a major new Government initiative.

“With Home Buy Direct, eligible homebuyers only have to pay 70 per cent of the purchase price – so they could buy a two-bedroom apartment at Citigait from as little as £97,995.

“The other 30 per cent is funded by a joint equity loan from Barratt and the Government’s Homes and Communities Agency (HCA),” Mark added.

“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 for HomeBuy Direct 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.

Citigait offers a selection of one and two-bedroom apartments and is located in the centre of Portsmouth, close to the main shopping centre in Commercial Road. Portsmouth Harbour Station, which offers a regular train service to London Waterloo, is just a short walk away.

For further details visit the Citigait sales office in St James’s Street, open from 11am to 6pm Thursday to Monday, or log on to barratthomes.co.uk.