Perfect first homes from Barratt in West Heath

Do you find the prospect of buying a new home daunting? Would you like to find out more? Then why not come along to Barratt West Midlands’ Westminster Place development this weekend and find out just how easy it could be to buy a new home.

This Saturday 24th and Sunday 25th October, Barratt is inviting interested purchasers to its dedicated HomeBuy Direct weekend at Westminster Place development on Alvechurch Road in West Heath.

The weekend has been specifically designed for those who are thinking about buying a new home, but who are not sure that they could afford to do so and offers the ideal opportunity to find out just how affordable home ownership could be.

HomeBuy Direct is a Government scheme which is currently being offered on a selection of homes at Westminster Place and allows eligible homebuyers to receive up to a 30 per cent equity loan on the value of their new home.

This means that with the scheme, eligible candidates could move into a brand new three-bedroom house priced at £149,500 for as little as £104,650.

Graydon Worthing, Sales Director for Barratt West Midlands commented, “Buying a new home can be a confusing time, whether it is your first or fifth time. This is why we are offering homebuyers the chance to come along to Skyline this weekend to find out more.

“Our experienced sales negotiators will be on hand to not only talk visitors through what homes are on offer at Westminster Place, but they will also be able to answer any questions about buying a home and how purchasers could take advantage of the HomeBuy Direct scheme.

“Whilst ideal for first-time buyers, HomeBuy Direct is also available for those who, for example, do not have enough space in their current home for their needs. This weekend is therefore, the ideal opportunity for homebuyers to find out if they could be eligible for the initiative.

“The sales office will be open from 10am to 5pm over the whole weekend and home seekers are invited to come along and see for themselves just how affordable home ownership could be.”

HomeBuy Direct 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 of 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.”

Westminster Place offers a selection of three- and four-bedroom houses priced from £149,500. For more information, log on to barratthomes.co.uk/westminsterplace.