Using the firm's
First Time Buyers' Initiative (FTBI), assistant surveyor from Nottingham Phil Hinton has been able to buy an apartment in the Park Mews development in the city, Barratt has announced.
The company said that the scheme, which is run in conjunction with English partnerships, operates under the Department of Communities and Local Government's HomeBuy scheme, under which the buyer pays half the cost and the rest is met by a loan from English Partnerships.
Describing the scheme as a "win-win situation" for buyers, Barratt North Midlands sales director James Poynor said: "It makes things easier for prospective purchasers by ensuring that they can make the move without stretching their finances too far."
At a Barratt development in London, the firm has reported that parental help is becoming a more common way of getting first-time buyers on the ladder.
Barratt London managing director Alastair Baird said that the frequency of such instances at the Kennington Park Square development is twice the level seen in normal times.
See Also: Property News (6705)
Date Published: 26 January 2009
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