Buyers should move quickly for new homes in Havant

Would you like to move your family into a brand new house in time for Christmas? You can buy a four-bedroom home for as little as £126,000 at Barratt’s Staunton Place development in the market town of Havant, if you qualify for HomeBuy Direct.

“This major new government scheme allows first-time buyers, key workers and others with housing needs to buy a brand new home for as little as 70 per cent of the purchase price,” reports Mark Docherty, Barratt sales director.

“The other 30 per cent is funded by a joint equity loan from Barratt and a government-approved agency. In Hampshire, this agency is the Swaythling Housing Association.

“We can offer two four-bedroom Meridian houses through HomeBuy Direct,” Mark continued. “They are priced at £185,000 and £180,000, but buyers accepted for the scheme would only have to pay £129,500 or £126,000. If they buy now, they could be settled in their new homes in time for the festive season.”

The Meridian offers spacious family accommodation, including a fitted kitchen, lounge/dining room with French doors to the garden, downstairs cloakroom, en-suite master bedroom and bathroom. There are two parking spaces outside.

To qualify for HomeBuy Direct, eligible households will be earning less than £60,000 and would not normally be able to afford to buy a suitable property on the open market. The buyers must also have £2,500 in savings, for legal fees and stamp duty, and a good credit history.

An equity loan of between 15 to 30 per cent can be obtained, there is no interest to pay on the equity stake for the first five years, but 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.

“For buyers priced out of the housing market, this is an outstanding opportunity to buy a new home at lower 2009 prices,” Mark continued. “People who have previously owned a home but are now unable to do so – perhaps where relationships have broken down – can also apply.

“I would urge people to contact us as soon as possible to find out if they are eligible for HomeBuy Direct. They can pay a holding reservation fee of £500 on the house of their choice. This fee is fully refundable if their application is not approved by the housing association.”

The busy market town of Havant nestles close to Staunton Country Park, and Hayling Island and the Isle of Wight are within easy reach. The nearby cities of Portsmouth and Chichester offer a variety of attractions and events, making Havant the ideal home base for people of all ages.

For further details on Staunton Place, log on to barratthomes.co.uk.