Barratt launches new homes in Stroud for under £100k

Barratt’s Orchard Leaze development in Stroud is offering buyers a trio of treats on Saturday (24th October) from 12-4pm where every buyer receives not only a new home but champagne and luxury chocolates to celebrate.

People who take advantage of the new government initiative HomeBuy Direct, can move into a new home for just 70 per cent of the purchase price which is as little as £94,675 for the two bedroom Norton design, normally priced at £135,250.

The remaining 30 per cent of the purchase price is funded by a joint equity loan from Barratt and the Government’s Homes and Communities Agency (HCA).

Andrea Pilgrim, Barratt sales director, said: “HomeBuy Direct has been incredibly popular at Orchard Leaze and we still have some homes available through the scheme. Our special event on Saturday will offer buyers the perfect opportunity to find out more.”

At the HomeBuy Direct event, every visitor will receive advice from South West Homes, the appointed agency for HomeBuy Direct in the region, and also independent mortgage advice.

“We’ll have a host of experts on hand at the event to answer every question buyers may have about the scheme and of course our Barratt sales team will show visitors around the beautiful show homes so visitors can really get a sense of what it would be like to live at Orchard Leaze,” continued Andrea.

“The 30 per cent equity loan from Barratt and the government means that, in many cases, buyers don’t even need to have a deposit, she concluded.

The scheme 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 installments after the initial year entitling buyers to purchase up to 100 per cent of the equity 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.

The development also has availability on two, three and four bedroom homes.

Orchard Leaze is located just a mile from the centre of Stroud, with its bars, restaurants, shops and weekly farmers’ market. Commuters are well served by the M5 motorway, just six miles away, and Stroud train station, which offers regular services to London, Bristol and Birmingham.

For further details on HomeBuy Direct and information about the event, visit barratthomes.co.uk/homebuydirect.