HELP TO BUY MORTGAGE INDEMNITY
- Purchasers will require a minimum 5% deposit to qualify for this scheme. The Government and lender then guarantee up to the next 15% of the property value in return for a fee paid for by the lender.
- The purchaser will not benefit in any way from the guarantee in the case of default on his/her mortgage.
- The scheme is available on new and existing homes, which includes Barratt new homes and its Oakleaf second hand homes.
- This scheme applies to residential mortgages only and is not available on buy to let properties.
- The scheme is available on properties up to a maximum purchase price of £600,000.
- The scheme is available on repayment mortgages only, excluding offset mortgages.
- This scheme can only be used in conjunction with select other Barratt Homes’ offers.
- The Government has made this scheme available for 3 years up to 31st December 2016.
- The Purchaser’s intention of taking advantage of this scheme must be disclosed at the time of reserving a Barratt home and before any discount is applied.
- Purchasers cannot own any other properties worldwide at the time of purchasing a home under the scheme.
Barratt Homes General Terms & Conditions
Any promoted Barratt offer is subject to contract and status. Offers are on selected plots only and are subject to availability. The offers advertised cannot be used in conjunction with any other offer on the same plot unless expressly stated otherwise. Prices and details are correct at time of going to press. All images are typical of Barratt homes and are for illustrative purposes only. Please contact the development in which you are interested for further details.
Barratt reserve the right to withdraw or alter any of these offers at any time prior to the payment of a reservation fee. Contracts must be exchanged within 28 days of reservation of your property. Failure to do so may result in the loss of all or part of your reservation fee.
The current specific offers being advertised in relation to selected Barratt developments are also subject to the specific terms and conditions set out above (N.B. these offers may vary from time to time and you should refer to the development in which you are interested to discover which offers are available on specific plots and developments).
Barratt will not be liable for the refusal of a mortgage based on the borrower’s individual circumstances which leads to the loss of any reservation fee. Barratt will not be responsible for the failure of any deal due to any defects in your existing property which arise as a result of an inspection or survey, whether a part exchange deal has been agreed or not.
These terms and conditions do not affect your statutory rights.
Barratt Homes is trading names of BDW Trading Limited (Registered Number 03018173) which is a subsidiary of Barratt Developments PLC (Registered Number 00604574) both with registered offices at Barratt House, Cartwright Way, Forest Business Park, Bardon Hill, Coalville, Leicestershire, LE67 1UF.
If you require a mortgage, you are strongly advised to obtain advice from a regulated adviser. Barratt Homes recommends from a panel of new build mortgage advisers who have extensive knowledge of the new build mortgage market, though you may, of course, seek such advice from your own mortgage adviser.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE