Barratt Homes Ltd, Bristol
First Time Buyer Offers. We have a variety of offers to help you make your first move. Get on the property ladder with a high-quality home to call your own.
FirstBuy - Goodbye Renting. Hello First Home
Announced in the Government’s budget back in March, FirstBuy is now available. It’s a great opportunity for first time buyers to get on the property ladder. Working with the Government, we could give you a 20% equity loan, which means you could buy with a much smaller deposit - as little as 4% - with a 76% mortgage. Plus you’ll still own 100% of your home.
For example, to purchase a new home from us for £200,000 you would need to raise a deposit of just £8,000 and secure a mortgage of £152,000, the remainder of the purchase price would be covered by the shared equity loan. If you sold after 5 years you would repay us 20% of the sale value - £42,000 on a sale of £210,000 or £30,000 on a sale of £180,000, for example.
Don’t miss out. Search for a Barratt home near you and register your interest to take advantage of FirstBuy.
First Deposit - Give your kids a helping hand to get on the ladder
Saving a deposit can be tough, but our new First Deposit scheme – offered in conjunction with Hitachi Capital - could help your kids buy a home of their own.
With First Deposit, you can take out an unsecured loan* for up to 15% of the purchase price, which helps towards the deposit on a new Barratt home. With an additional 5% cash deposit your child could then secure a mortgage and make their purchase.
So, your kids can move into their first home sooner than you thought.
How it works:
You take out an unsecured loan provided by Hitachi Capital (UK) PLC
This can be up to 15% of the total purchase price
The loan term is 12 years – repaid at any time without penalty
The minimum loan amount is £15,000, maximum of £50,000
No early redemption charge
There's a low fixed interest rate of 5.4% APR (typical)
Read full terms and conditions
If you and your family think First Deposit could help you make your first move, just ask one of our Sales Advisers at any of our developments.
* Offer available on selected plots only. Terms and conditions apply. Subject to contract and status, speak to a sales adviser for details. Actual amount of the loan will depend on Hitachi Capital (UK) PLC lending criteria. Subject to use of Barratt appointed conveyancers. Barratt reserve the right to withdraw or alter this offer at any time prior to the payment of a reservation fee. Customers must complete a credit agreement with Hitachi Capital (UK)PLC who reserve the right to withdraw or alter this offer at any time prior to its acceptance of a credit agreement.
Parent
If you thought you couldn't afford to buy a place of your own, think again. With our Parent Power' scheme we really can bring property prices within your reach and turn your dream home into reality.
Everyone welcomes a helping hand when they’re buying a new home – especially when it’s their first step onto the property ladder.
Now Barratt is offering extra help to make buying your first home even more affordable. Whatever you put in, we’ll match it, up to 5% of the purchase price. That’s a Barratt contribution worth up to £7,500 on a £150,000 home. It could be cash towards your deposit or part cash and part used in some other way, for example carpets or kitchen appliances.
Parents can also help. Typically they (or a close family member) could help you with your deposit, or guarantee your mortgage, or act as a joint loan applicant. This could enable you to borrow more, bringing property prices within your reach. Providing you’re paying the mortgage it needn’t cost your parents a penny more!
How do I apply?
Speak to your Barratt sales adviser who will talk you through some of the options and introduce you to specialist mortgage advisers. If you qualify and decide to proceed, you will also be asked to use one of a number of independent solicitors recommended by
Here's how it works
Barratt can contribute up to 5% of the purchase price, worth up to £7,500 on a 150,000 home for example, to help with your deposit or buying costs, or help with furnishing your new home.
Introduce specialist advisers – including mortgage experts who can provide
individually-tailored advice and help secure the best mortgage for your own
circumstances.
Make home buying easier – we can help in so many ways and guide you through every stage of buying.
Deposit Match
If you thought you couldn't afford to buy a place of your own, think again. With our Deposit Match scheme we really can bring property prices within your reach and turn your dream home into reality.
Everyone welcomes a helping hand when they’re buying a new home – especially when it’s their first step onto the property ladder.
Now Barratt is offering extra help to make buying your first home even more affordable. Whatever you put in, we’ll match it, up to 5% of the purchase price. That’s a Barratt contribution worth up to £7,500 on a £150,000 home. It could be cash towards your deposit or part cash and part used in some other way, for example carpets or kitchen appliances.
How do I apply?
Speak to your Barratt sales adviser who will talk you through some of the options and introduce you to specialist mortgage advisers. If you qualify and decide to proceed, you will also be asked to use one of a number of independent solicitors recommended by Barratt.
Here's how it works
Barratt can contribute up to 5% of the purchase price, worth up to £7,500 on a 150,000 home for example, to help with your deposit or buying costs, or help with furnishing your new home.
Introduce specialist advisers – including mortgage experts who can provide
individually-tailored advice and help secure the best mortgage for your own
circumstances.
Make home buying easier – we can help in so many ways and guide you through every stage of buying.
Head Start
With our Head Start scheme, you could get on the property ladder sooner than you think.
If you're a first time buyer this shared equity scheme buying in Scotland or Wales, we could help you get on the property ladder by lowering your deposit.
With our Head Start scheme you can buy a brand new home with only 80% mortgage and 5% deposit, we’ll pay the other 15% which you can pay back in up to 10 years* – exclusively for first time buyers and key workers wanting to live in Scotland and Wales. Talk to us today to find out how Head Start could work for you.
The key benefits:
• Exclusive offer for first time buyers and key workers in Scotland and Wales
• You only need a 5% deposit
• 15% is a loan from us for up to 10 years
• So you’ll only need a mortgage for 80% of the purchase price
How does the Head Start scheme work?
5% deposit payable by purchaser. Mortgage finance is arranged on 80% of the purchase price. The remaining 15% is a loan that you don’t have to pay back for 10 years or when you sell or transfer your home, whichever is sooner.
Are any other costs involved?
Legal fees, mortgage arrangement fee, valuation fee, moving costs and stamp duty will be payable by you.
If I improve my property do I have to pass 15% of the increased value
to Barratt Homes?
No – any increase in value due to your improvements will be deducted first.
What if the market value of my property decreases?
The repayment is 15% of the market value at the point of resale, transfer, or the end of the 10 year period, whether this is more or less than the original purchase price.
Can I buy a property to rent out?
Sorry – the Barratt Homes Head Start scheme is only available for those buying a home as a place to live in Scotland or Wales.
How do I apply?
You need to inform your Barratt Homes Sales Adviser who will refer you to an Independent Mortgage Advisor. If you decide to proceed with a loan, you will be asked to use one of a number of independent solicitors recommended by Barratt Homes.
*Offer is only available on selected properties priced up to £300,000. A £500 Head Start reservation fee is payable at reservation stage but is fully refundable on legal completion. Subject to status, and Barratt Homes terms and conditions, including exchange of contracts within 28 days and legal completion by the specified date. Written details available on request. Barratt Homes cannot give you any financial advice.
For full Terms and Conditions click here.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Typical example: Purchase a property at £250,000, 80% (£200,000) is payable at time of purchase. 5% purchaser contribution at £12,500. If property is sold or transferred for £260,000 then 15% (£39,000) is payable to Barratt Homes. If the property is sold or transferred for £240,000 then 15% (£36,000) is payable to Barratt Homes.
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