HomeBuy Direct is the latest of several Government-led HomeBuy schemes initiated to help first time buyers purchase a property. More than 130 developers are backing the scheme at their sites across the length and breadth of England.
By Gordon Miller
Housebuilder Barratt is supporting the initiative with a total of 3,000 homes nationwide. The homes being allocated to the scheme in Hampshire include Lakeside in Eastleigh, Citigait in Portsmouth and Staunton Place in Havant.
Sales director Mark Docherty, said: 'We are delighted the government recognises our outstanding track record in delivering affordable homes through initiatives like this. And we are very pleased that it has chosen to work with us to help 3,000 households nationwide who have wanted to buy a home but until now have been unable to afford one.'
Under the scheme, buyers will be protected against possible falls in property values up to 30 % as the Barratt/Government equity share will absorb price risk. In addition, there is no interest to pay on the joint housebuilder/government equity stake for the first five years, although a fee will be charged from year six onwards.
Barratt is also offering HomeBuy Direct at selected developments in the West Country, including the Zone in Bristol, Coopers Edge in Brockworth near Gloucester, and The Piazza in Chippenham. Barratt has launched a pre-registration scheme at www.barratthomes.co.uk/homebuydirect which contains a list of all developments involved.
Whitehotproperty.co.uk is a website that exclusively offers chain-free properties being sold by home builders and mortgage lenders which have been priced to sell. One in four also has a buyer incentive - paid for by the sellers to encourage buyers to buy, making them ideal for first time buyers.
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