Developers launch new Help to Buy scheme in Northumberland

First time buyers are being given a chance to take their first step on the property ladder.

Sunday, 11th April 2021, 8:00 am
An artist impression of a proposed home at Blossom Park.
An artist impression of a proposed home at Blossom Park.

A new Government-backed Help to Buy scheme is being launched by Barratt Homes’ for their Blossom Park development in Pegswood and South Fields in Morpeth.

The new scheme is exclusive to first time buyers only and is available on new properties built after April 1.

With Help to Buy, buyers are able to purchase a new home with just a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is funded by an equity loan, interest-free for the first five years and repayable on the sale on the home.

Fenton Hewitt, Sales Director at Barratt Developments North East, said: “The launch of the new Help to Buy scheme has arrived at an opportune time for first time buyers looking to begin their journey as a homeowner.

“The Government-backed scheme is a fantastic stepping stone for anyone looking to get on the property ladder with just a five per cent deposit, providing an opportunity for young couples to secure a first home together, or allowing renters to find a home of their own.

“We have a selection of properties with Help to Buy available at our developments across North East and we’re looking forward to assisting property seekers with their move.”

For more information on the scheme visit www.barratthomes.co.uk/offers/help-to-buy-2021/ or www.dwh.co.uk/offers/help-to-buy-2021/

Barratt Homes’ Blossom Park development offers a selection of three and four bedroom homes, and is located just two miles from Morpeth. The thoughtfully-designed spaces offer homeowners plenty of space for the family, as well as private home-working areas too.

For more information on Blossom Park and to speak with a Sales Advisor, visit www.barratthomes.co.uk/BlossomPark