A boost for first time buyers in Stroud

First time buyers in Stroud have been handed a second chance to move into a new home with a minimal deposit after a further funding release for the HomeBuy Direct scheme.

Thousands of people across the country have taken advantage of the Government-backed scheme, which enables buyers to move in for 70 per cent of the price.

The original HomeBuy Direct is coming to an end. But just 15 homes at Barratt’s Orchard Leaze development in Stroud 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 at Orchard Leaze could move into a new four bedroom Dumont design home with an asking price of £249,995 for just £166,245.

“This news should interest anyone looking to buy a home in Stroud who doesn’t have a big deposit,” said Andrea Pilgrim, Barratt sales director.

“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 purchasing a house 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.

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

If you love the Cotswolds, Orchard Leaze provides the perfect setting for your new home - allowing you easy access to this magnificent Area of Outstanding Natural Beauty. Its location, in the charming town of Stroud, offers you quaint, steep streets – as well as its famous café culture.

“If you’re a fan of this beautiful region, you will find everything you need here at Orchard Leaze to create your dream lifestyle,” continued Andrea. “It provides the perfect base – combining an idyllic, rural place to live with a close proximity to all local amenities.”

For details of current availability visit the sales office, open daily from 11am to 6pm.