Milestone for Barratt as Plymouth's first time buyers flock for new homes

Buyers from across the region are turning to Barratt for their first venture into the property market.

The housebuilder is celebrating its 50th sale under the innovative FirstBuy scheme, designed to help first time buyers become homeowners.

"This is wonderful news for us - and a very encouraging sign that growing numbers are choosing to buy their own home rather than rent and that we have been able to help so many people onto the property ladder," said Barratt sales director Caroline Hill.

"Available at PL2 and Brunel View in Plymouth, FirstBuy is hugely successful and perfect for those who may previously have found it difficult to put initial funds in place for their first home."

Under FirstBuy, 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.

They then have to find the remaining 80 per cent of the price themselves. Up to 75 per cent of this could be a mortgage, leaving a deposit of just five per cent.

"In practice, this means people buying Barratt homes would potentially be able to access the market for far less than they might think," added Caroline.

"But time is now running out for those wishing to take advantage of FirstBuy. Anyone interested should contact us now for more information about how we can help them take those first steps onto the property ladder."

With a number of developments situated across the region, first time buyers have an abundance of new homes to choose from.

Hannah Page was first in the region to use the scheme when she fell in love with a two bedroom apartment from Barratt.

"I was keen to find my own home and knew of Barratt's homes - but I wasn't sure if it would be possible to buy one of the new places there," she said.

"The best news was this new scheme called FirstBuy. It's fantastic because I am now settled into my own home and it cost less than I ever could have imagined."

See Also:  Property News (8688), Barratt (84), PL2 (14), Brunel View (15), Plymouth (43)

Date Published: 16 July 2012

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