Renting seems like the only option for many - but visitors to Barratt's D2 development in Swindon are choosing to buy a new home because it makes more financial sense.
First time buyers are now able to make a stylish new apartment at D2 their own, with monthly mortgage repayments lower than rental costs in the area.
Sales director Andrea Pilgrim said, "This is a great time for anyone looking to take their first step on the property ladder.
"Monthly mortgage repayments on a two bedroom apartment under the FirstBuy scheme are now as low as £403 based on a 35 year mortgage period and buyers will only need a deposit of four per cent."
Under FirstBuy, first time buyers are 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 the mortgage and deposit.
In practice, that means that anyone buying a two bedroom apartment at D2 priced at £103,995 under Firstbuy, would potentially be able to get on the housing ladder with a deposit of as little as £4,160.
"From the point of view of a first time buyer in Swindon, FirstBuy represents an outstanding opportunity to take their first step on the housing ladder.
"It is now more vital than ever that those interested act quickly with only four stylish apartments now remaining at this popular development."
The selection of two bedroom properties available and the location have been a big draw for first time buyers at D2. The development is perfect for those looking for a contemporary and modern apartment in the heart of the town with local amenities such as bars and restaurants almost on the doorstep.
And for those working outside town, D2 has excellent rail links with the nearby train station offering frequent journeys to Bristol, Reading and London.
See Also: Property News (8660), Barratt Homes (360), D2 (1), Swindon (18)
Date Published: 17 May 2012
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