And for those who want to learn more about this scheme which aims to make home ownership more affordable by allowing purchasers to initially purchase a property for a fraction of the price, the housebuilder is holding a special open evening, this Thursday, the 12th November and is inviting interested parties to join them from six until eight.
James Poynor, Sales Director for Barratt North Midlands comments “The First Time Buyer Initiative is a fantastic scheme designed to help wannabe home owners take that first valuable step onto the property ladder by making the buying process as affordable as possible.
“Eligible candidates could find themselves owning a brand new home for as little as 50 per cent of the purchase price meaning home ownership can become a reality at Friars Park for an unbelievable £48,497.
“But with just seven apartments remaining unsold, this is literally purchasers’ last chance to take advantage of this fantastic Government scheme in Nottingham, so I’m encouraging anyone considering biting the bullet to come along to our open evening this Thursday.”
The FTBI is a government scheme that aims to make more affordable homes available to first time buyers and it is part of the HomeBuy low-cost home ownership project that is delivered by national regeneration agency English Partnerships.
Aptly described as the stepping stone into home ownership, those who qualify for the scheme could find themselves initially paying as little as 50 per cent towards the full purchase price of a new home. The remaining Government assisted percentage is repayable when the property sells but buyers can choose to make repayments at any time if their financial situation improves.
First time buyers and key workers could qualify for this scheme and the onus is on local HomeBuy agents to assess the eligibility of any potential candidates. If an application is successful, the agent will calculate the percentage of Government assistance, which could be up to 50 per cent of the price of a property, leaving the buyer to fund the remaining percentage through a cash deposit and mortgage. The HomeBuy Agent is also responsible for ensuring that buyers maximise their mortgage while having regard for the overall affordability of the repayments.
Barratt is currently offering this deal on the two- bedroom apartments at its Friars Park development on Mansfield Road.
These stylish starter homes offer excellent value for money and an ideal opportunity to make the move into home ownership without overstretching budgets. Boasting an open plan layout, these dynamic properties are purpose built to meet the demands of a modern lifestyle.
Friars Park benefits from the good range of local amenities the popular destination of Edwinstowe boasts including shops, public houses and takeaways whilst Nottingham city centre, with its plethora of leisure and recreational facilities, is close at hand.
Prices at the development start from £81,995 for a one- bedroom apartment.
To find out more contact the sales office on 01623 825 193 or visit during the opening hours of 11am-6pm, Thursday to Monday. Alternatively call the sales hotline on 0845 602 4032 or log onto the website at www.barratthomes.co.uk