First time buyers flock to Staunton Place

First-time buyers have been flocking to Staunton Place, Barratt’s new development in Havant, where, thanks to a major new Government initiative, they can move into a brand new home for just 70 per cent of the purchase price.

Buyers who are accepted for the HomeBuy Direct scheme only have to find 70 per cent of the purchase price on a new home. The other 30 per cent is funded by a joint equity loan from Barratt and the Government’s Homes and Communities Agency (HCA).

Mark Docherty, Barratt sales director, said: “HomeBuy Direct has been incredibly popular at Staunton Place. We’ve had 12 reservations in the last four weeks, mainly to first-time buyers, but we still have one two-bedroom apartment for sale through the scheme.

“This second floor property has an asking price of £100,000, but buyers eligible for HomeBuy would only need to secure a mortgage for £70,000,” he continued. “The interior features an open plan lounge/kitchen and an en-suite master bedroom, and there is a garage space outside. It’s the ideal home for a first-time buyer or key worker.”

Barratt is backing HomeBuy Direct with a total of 3,000 allocated homes nationwide. In addition to Staunton Place, developments in the south with HomeBuy properties include Citigait in Portsmouth, Lakeside in Eastleigh and Hawthorn Meadows on the Isle of Wight.

Mark continued: “Buyers who have been priced out of the housing market for years see this as an outstanding opportunity to buy a new, lower 2009 priced home. The 30 per cent equity loan from Barratt and the government means that, in many cases, they don’t even need to have a deposit.”

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.

Set in communal gardens with specially commissioned sculptures, Staunton Place offers a selection of Citipads, apartments and houses. Havant is a thriving market town and it lies close to the busy maritime cities of Portsmouth and Chichester and the Isle of Wight. Commuting is easy, thanks to the close proximity of the M27 and A3 (M) motorways.

For further details on HomeBuy Direct, call the Staunton Place sales office, open from 11am to 6pm Thursday to Monday, or log on to barratthomes.co.uk.