Nurse treats renting woes with HomeBuy Direct in Eastleigh

A nurse who had resigned herself to renting for years to come has become a home owner at Barratt’s Lakeside development in Eastleigh after taking advantage of the popular HomeBuy Direct scheme.

Amy Webb, 22, a staff nurse at Southampton General, has moved into her two bedroom coach house at the development for just 70 per cent of the asking price.

“It’s pretty much guaranteed I would have been stuck in the rental trap for many years had it not been for HomeBuy Direct,” said Amy.

“I can’t believe I’m on the property ladder, by myself, at 22 years old. It’s a very exciting time!”

Amy’s spacious two bedroom coach house had an asking price of £155,000 but with HomeBuy Direct, she only needed to pay for £108,500 saving her thirty per cent. Teamed with savings Amy used as a deposit, she could finally land her dream home.

Barratt still has a number of homes available through the HomeBuy Direct Kickstart scheme, so urges interested buyers to get in touch soon.

Barratt sales director Mark Docherty said: “The initiative 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.”

“Eligible households will have an income of up to £60,000 and would not normally be able to afford to buy a suitable property on the open market,” he added.

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. Buyers must have at least five per cent of the 70 per cent to use as a deposit.

Lakeside is a stunning development of apartments, coach houses and houses nestling close to the River Itchen and Lakeside Country Park.

The development is located midway between the maritime city of Southampton and the cathedral city of Winchester. There are excellent transport links, including regular bus services, and Southampton International Airport is only a 15-minute drive away.

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