Eight sales in eight weeks at Beechwood in Sacriston

The new Government-backed HomeBuy Direct scheme has caught the imagination of buyers at Beechwood in Sacriston, near Durham, where Barratt North East has sold eight homes in eight weeks.

The low-cost home ownership scheme gives buyers the opportunity to move in for only 70 per cent of the purchase price, with the remainder funded by Barratt and the Government through an equity loan. In many cases buyers don’t even need a deposit.

HomeBuy Direct is available on a limited number of homes at Beechwood, including the the ‘Derwent’ 3-bedroom detached house, which is offered for £112,700 through the scheme rather than the usual price of £161,000.

This design has a living room and separate dining area, fully-fitted kitchen with oven, hob and hood, adjacent utility room and cloakroom, and integral garage. The main bedroom has an en suite and dressing area, and there is a second double bedroom and third single, plus family bathroom.

Barratt will also include carpets, fridge-freezer and washer-dryer.

Steve Mariner, Barratt North East sales manager, said: “People who have been priced out of the housing market for years can see this is an outstanding opportunity to buy.

“Buyers can receive up to a 30 per cent of the price through an equity loan funded by ourselves and the Government, which means only a 70 per cent mortgage is required, making monthly repayments much more affordable. They often don’t need a deposit.”

He added: “We only have a limited number of properties available through HomeBuy Direct and they all have to be sold within the next few months.

“The scheme is open to a wide range of people who don’t currently own their own home and I would advise anyone interested 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.”

Beechwood has the benefits of a semi-rural setting three miles from Durham city centre, with countryside on the doorstep yet within easy reach of amenities and well-located for commuting.

Showhomes and the sales centre are open from 10.00am to 5.00pm, Thursday to Monday. For details see barratthomes.co.uk/beechwood.