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Barratt to subsidise mortgages on Coventry apartments

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Buying a new one-bedroom apartment in Coventry just got easier thanks to a mortgage subsidy deal from Barratt.

The housebuilder is offering to subsidise mortgage payments for one year at its CV One development on Lower Ford Street.

As well paying £350 per month on the development's one-bedroom apartments, Barratt is also offering to pay five per cent of the deposit.

Sales director David Child said that CV One has proved popular with investors, university students and first time buyers.

"A mortgage subsidy takes the pressure away from paying full mortgage repayments for the first year," he added.

Prices for a one-bedroom apartment start at £121,200, which is just below the average house price in Coventry, according to official figures.

The latest Land Registry data shows that the average cost of home in the city is £126,859, down 1.6 per cent on this time last year.
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