Hairdresser gets a head start at Hallam Fields

A payment deferral scheme from Barratt North Midlands has enabled a first time buyer from Ilkeston to spread her wings from the parental nest and purchase a home of her own at the housebuilder’s Hallam Fields development on Corporation Road.

At 27, Hairdresser Assessor Laura Sneddon was keen to make the move into home ownership but the large deposit required by most mortgage lendors during the current credit climate meant that Laura would have to save hard before her dream of having a place of her own could become a reality.

Laura comments “I’d been considering buying a place of my own for quite some time but as the 100 per cent mortgage was no longer available to first time buyers, I was struggling to save the 25 per cent deposit required to secure a mortgage.”

On a chance visit to drop off lunch for her brother Robert who works as a painter and decorator at Hallam Fields, Laura popped into the sales office to find out more about the properties that were on offer. Whilst there, the sales advisor told her about a shared equity deal could help her get that much desired first foot onto the property ladder.

Laura adds “Angela the sales advisor was incredibly informative and told me about a shared equity deal that could go towards a deposit and help to secure a mortgage. I didn’t need to think twice and reserved a property there and then.”

Barratt’s Head Start scheme allowed Laura to purchase a one- bedroom iPad property for initially just 85 per cent of the asking price. The remaining 15 per cent is funded through a ten year interest free loan from Barratt which is payable after 10 years or when the property sells.

The iPad is Barratt’s one- bedroom property designed specifically with first time buyers in mind. These stylish starter homes are compact yet creatively designed to maximise space to ensure buyers get the most for their money with the living accommodation consisting of an open plan kitchen and living room with Juliet balcony, a bedroom and a shower room.

Laura adds “I love the iPad, it’s the perfect size for me and the fact that it’s got a balcony is a big bonus because I’ve always wanted one. Plus, the development is in a great location- close to family and easy for work.

“Angela the sales advisor and everyone at Barratt have been incredibly helpful throughout my entire buying process and I literally feel like all I’ve had to do is sign a few documents and hand over the money.

“Head Start is a great scheme and without it I wouldn’t have been able to afford to buy for quite some time. Deals like these are simply not available on the second hand market so thanks to it I’ve not only been able to buy a home of my own but its brand new too which is a major advantage because it means I don’t have to worry about maintenance or DIY.

“I couldn’t have asked for a better service and I wouldn’t hesitate in recommending Barratt and Head Start to other first time buyers looking to buy.”

James Poynor, Sales Director at Barratt North Midlands, comments “Shared equity deals like Head Start are proving a lifeline to first time buyers struggling to save a bit enough deposit to secure a mortgage.

“And with issues such as affordability proving a big worry for many prospective home owners, deals like these are a great alternative for those who think they may be in a better financial situation a few years down the line.

“The iPads at Hallam Fields make a fantastic first home and with prices starting from just £70,995 they offer incredible value for money. I’m thrilled we’ve been able to help Laura make her dream of home ownership a reality. I wish her all the best in her new home.”

Located on Corporation Road, Hallam Fields comprises a superb selection one- and two- bedroom apartments as well as three- and four- bedroom houses.

Prices at the development start from £71,995.

For more information log on to barratthomes.co.uk.