First time buyers in Bournemouth get national funding boost
Dorset's leading housebuilder has secured national funding to help first time buyers who want to take their first step on the housing ladder at Honeycombe Beach in Boscombe.
Barratt has announced that hundreds of local households who have previously been priced out of home ownership will be able to take advantage of the Central Government money to buy a property of their own.
Honeycombe Beach is now 85 per cent sold with the location appealing to a wide range of buyers.
In addition to the homes, the development offers residents a spacious gym - featuring the very latest fitness equipment including cardiovascular machines and free weights, complete with a flat screen television.
There is also a 24-hour concierge service caters for all needs – from home deliveries to booking theatre tickets and sourcing IT support for your home computer system.
The funds now available are part of a new scheme called FirstBuy which the Chancellor announced in the Budget in March. It is designed to give first time buyers a route to home ownership at the lowest possible cost and with the lowest possible deposit.
“First time buyers in Dorset now have the chance to move into a new one bedroom home with a deposit of as little as £7,399.96,” said Barratt senior sales manager Zak Long.
“Everyone should be clear that this is not social housing – this is a privately owned first home of your own.
“A lot of people in Dorset will be eligible to take advantage of FirstBuy – any household with a combined income of up to £60,000 qualifies - so I would urge anyone interested to contact us as soon as possible. We have limited availability in this area but we know that demand will be high because thousands of people have already pre-registered their interest on our website.”
Under FirstBuy, buyers will be offered a loan of up to 20 per cent of the price of the property, jointly funded by Barratt and the Government’s Homes and Communities Agency.
The buyers then have to find the remaining 80 per cent of the price themselves with a mortgage and deposit.
In practice, that means that anyone buying a one bedroom apartment from Barratt priced at £184,999 under the scheme would potentially be able to get on the housing ladder with a deposit of as little as £7,399.96.
“From the point of view of a first time buyer in Dorset, FirstBuy represents an outstanding opportunity to take their first step on the housing ladder, added Zak.
For more information on Honeycombe Beach which is open daily from 11am until 6pm, visit: barratthomes.co.uk
