First time buyers urged not to ‘miss out’ in Southampton

First-time buyers are being urged not to miss out on a share of £2 million which Barratt Southampton has to spend on helping them onto the property ladder. The money is the Government’s contribution to a special initiative aimed at reducing the cost of homebuying and must be allocated before the end of this year.

“The scheme is called HomeBuy Direct and it dramatically reduces the initial cost of house purchase and improves your chance of owning your own home,” said Mark Docherty, sales director of Barratt Southampton.

“We have around £2 million of Government funding that has to be spent on the initiatives this year, so I would advise people to come and talk to us to find out if they are eligible. It doesn’t cost anything and we can answer any queries and help with the paperwork.”

Barratt Southampton has a selection of homes currently available through HomeBuy Direct which give buyers the chance to move in for just 70 per cent of the price.

The remainder of the price is jointly funded by Barratt and the Government, through a 30 per cent equity loan, which means that in many cases buyers don’t even need to have a deposit.

The scheme is open to a wide range of people who don’t currently own their own home. Households eligible will be earning less than £60,000.

For further information visit barratthomes.co.uk.