No deposit needed at Burton Woods in Spennymoor

There's a real buzz around Barratt North East’s exciting new Burton Woods at Whitworth Park development in Spennymoor.

Sales adviser Kelly Phillips has sold nine homes in three weeks and three eye-catching showhomes have just opened to rave reviews from visitors.

And there’s some good news for first-time buyers, who could move into a new home with no deposit needed after a further funding release for the Government-backed HomeBuy Direct scheme, which enables buyers to move in for 70 per cent of the price.

The original HomeBuy Direct is coming to an end. But homes at Burton Woods have now become eligible for the scheme thanks to a new release of Government funds called Kickstart, which as its name suggests is designed to boost the local housing market.

It means that buyers could move into a new home with a minimal deposit – or no deposit at all in some circumstances.

“This news should interest anyone looking to buy a home who doesn’t have a big deposit,” said Fenton Hewitt, Sales Director at Barratt North East.

“Everyone knows that public spending is being squeezed at the moment, so it’s great news that local people will still be able to get on the property ladder with the help of Government money.

“I’d advise anyone who is interested to come and talk to us as soon as possible. There will be a lot of demand for a limited number of homes and buyers will be served on a first come first served basis.

“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 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 should be more affordable.

HomeBuy Direct is open to a wide range of people who don’t currently own their own home. Eligible households will be earning less than £60,000.

Barratt is building some of its most popular designs at Burton Woods, where prices range from £137,500 to £229,995. Homes available now should be ready to move into for Christmas.

All come complete with energy-efficient central heating and high standards of insulation, and for added peace of mind buyers also benefit from an exclusive five year guarantee on fixtures and fittings.

The development is in a superb setting on Whitworth Road, with a sweeping private entrance road, open spaces and a neighbouring “bio-park” with protected areas for wildlife.

Spennymoor offers a good selection of shops, community facilities and schools. The town is a short drive from Durham City and Bishop Auckland, and Darlington, Middlesbrough and Newcastle are all within commuting distance.

The showhomes and sales centre are open from 10.00am to 5.00pm, Thursday to Monday.