Low cost homes scheme extended in Hampshire

Barratt in Hampshire is urging First Time Buyers to take advantage of the extension to a national scheme which enables people to buy a new home with virtually no deposit.

They could move in to a new home at Staunton Place in Havant for as little as £88,900 thanks to the HomeBuy Direct low-cost home ownership scheme.

Thousands of people have already bought their first home through HomeBuy Direct, which was originally supposed to end in March. But it has now been extended to later in the year so that more buyers will be able to seize the opportunity to get on the property ladder, says Mark Docherty, Barratt sales director.

“I’d advise anyone who is interested to come and talk to us if they want to take advantage of this extremely attractive window of opportunity,” he said.

“HomeBuy Direct can dramatically reduce the initial cost of house purchase and for people who have been priced out of the market for years this is an outstanding opportunity finally to own their own home.”

The scheme gives buyers the opportunity to move in for only 70 per cent of the price, with the remaining 30 per cent covered by a loan from Barratt and the Government’s Homes and Communities Agency. Because a smaller mortgage is required, monthly repayments are much more affordable.

HomeBuy Direct is open to a wide range of people who don’t currently own their own home. Eligible households will have an income of no more than £60,000.

Barratt Southampton has a selection of homes currently available through the scheme at its Hampshire developments including Staunton Place in Havant and Lakeside in Eastleigh.

For added piece of mind buyers can also benefit from Barratt’s new five year guarantee on fixtures and fittings in their new home at the time of purchase.

For more information, visit: barratthomes.co.uk