If you don’t have a large deposit to buy your home, it needn’t stop you moving. For instance, if you have a 5% deposit, we could top it up with a loan of up to 15% with HeadStart.

Get moving with a 5% deposit …

If you're thinking about buying a first home in Scotland or Wales, we could help you get on the property ladder with a deposit as low as 5%.

… and a little top up from us

With our HeadStart scheme you could buy a brand new home with only 80% mortgage and 5% deposit. We’ll lend you the remainder of up to 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 benefits:

• With HeadStart you may only need to find a 5% deposit
  You may only need an 80% mortgage
  We could provide a top up equity loan of up to 15%
  You own 100% of your home

How does the Head Start scheme work?

5% deposit payable by purchaser. Mortgage finance is arranged on 80% of the purchase price by purchaser. The remainder of up to 15% is a loan you don’t have to pay back for 10 years, or until you sell or transfer your home, whichever is sooner.

Are any other costs involved?

Legal fees, mortgage  fees, valuation fee, moving costs, stamp duty, Land Registry fees and disbursements 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 amount is the loan percentage (usually 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 HeadStart 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.  

For full Terms and Conditions click here.

Typical example: Purchase a property at £250,000, 85% (£212,500) 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.