Exclusive deal for first time buyers

Barratt Northampton has teamed up with the Mansfield Building Society to offer an exclusive mortgage product to purchasers who chose to buy a new Barratt home on the recently introduced Government-backed scheme, FirstBuy.

FirstBuy was announced by the Chancellor in March’s budget and aims to make home ownership more affordable by allowing eligible purchasers to initially buy a new home for just 75 per cent of the asking price and with a 5 per cent deposit.

The remaining 20 per cent is funded by a joint loan from Barratt and the Government’s Homes and Communities Agency (HCA).

Barratt announced in June that it had received a FirstBuy allocation and has subsequently teamed up with The Mansfield Building Society to offer its customers an exclusive mortgage product.

Paul Walker, Sales Director at Barratt Northampton, comments “As a housebuilder, we are dedicated to helping Bedfordshire’s first time buyers get that valuable first foot on to the property ladder and mortgage deals which only require a small deposit are vital in making home ownership more accessible.

“Following our allocation of FirstBuy funds, we’ve teamed up with The Mansfield Building Society to ensure that our customers will not only be getting a high quality new home but a very competitive mortgage offer too.”

The Mansfield Building Society’s FirstBuy mortgage is an offset discounted scheme which links the mortgage with a non-interest earning savings account. This mortgage features an attractive discount of 2.60 per cent off the Society’s standard variable rate of 5.59 per cent resulting in an initial variable payable rate of 2.99 per cent.

Nigel Quinton, Chief Executive at The Mansfield Building Society, comments “We are delighted to have joined forces with Barratt Northampton to bring home ownership in reach for many people in our main operating area. Initiatives of this kind have a pivotal role to play in these exceptional market conditions”.

Mark adds “Our FirstBuy allocation is limited and will be awarded to homebuyers on a first come, first served basis. With that in mind, I’d encourage anyone who is looking for an affordable route in to home ownership, to get in touch today.”

FirstBuy and The Mansfield Building Society’s FirstBuy Mortgage is available to first time buyers who purchase a new home at any of Barratt Northampton’s developments throughout the region which include Greenkeepers Mews, Greenkeepers Road, Biddenham Vale; De Balliol Chase, Cemetery Road, Kempston; and De Balliol Court, Cemetery Road, Kempston.

For more information on Barratt’s range of services to help you move please call the sales hotline on 0844 811 3399 open seven days a week from 8am to 9pm. Alternatively, please log on to www.barratthomes.co.uk