We know getting a deposit together can take some time, which is why we’re doing all we can to help first time buyers. So if your parents - or even a friend - can help with your deposit we can help explain how it works.
Make your first move
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.
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.
We could help with your deposit
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.
Introduce specialist advisers – including mortgage experts who can provide individually-tailored advice and help secure the best mortgage for your own circumstances.
You could give them a return on their investment
If your friends and family are able to help you out – by providing a deposit - our Parent Power scheme can also provide the equivalent of an interest payment of 5% each year over 5 years** on their share of the deposit.
So, for example, if you bought a home for £120,000 and a 20% deposit of £24,000 were paid by a family member, we would pay them 5% interest, amounting to £6,000.
Alternatively, if your parents decide to remortgage to help out, we could pay their remortgage fees up to 5% of the purchase price* of your new home.
And please remember, you can always turn to friends as well as family for help. They could get the same great return on their investment while you get the home you always dreamed of.
Make home buying easier – we can help in so many ways and guide you through every stage of buying.
Click here for full Terms and Conditions.
You may also like
You don't have any recently viewed properties yet