Recently released figures from local housebuilder, Barratt Homes North East, show first-time buyers are thriving at its new North Gosforth Park development in Newcastle. Since the launch of the development 68% of reservations have been made by first-time buyers, with 78% of those first-time buyers using the Government’s Help to Buy scheme.
North Gosforth Park currently has a range of two, three and four bedroom homes available from £204,995. With 47 reservations taken to date and almost 30% of the properties sold in under one year, these properties are in high demand and selling fast with the assistance of the Help to Buy scheme.
Nicole Dolan has recently benefitted from the Help-to-Buy scheme and became one of the first-time buyers now living at North Gosforth Park. After moving from a rented flat, Nicole visited the show homes during one of the early bird reservation events and secured the Roseberry housetype.
Nicole Dolan said: “The Help-to-Buy scheme was so important for us, we wouldn’t have been able to afford our first home without it. When we first began our house search we knew a new home was what we were looking for, and so the North Gosforth Park development was perfect for us. Not only did we love the house, but the staff at Barratt were fantastic from start to finish, helping us complete the proccess as quickly and as smoothly as possible.”
This scheme has seen success across the North East region, with over 10,000 having purchased a home through Help-to-buy. This allows people to buy a new home with just a 5% deposit, and is set to continue until 2021. The equity loan scheme of Help to Buy is largely successful in helping increase the supply of high loan to value mortgages (up to 95%), thereby helping first-time buyers secure their mortgages and properties.
Becky Mortimer, Sales Manager at North Gosforth Park, said: “We’re delighted to see such a positive impact with first-time buyers being able to get their foot on the property ladder here at North Gosforth Park. Since the very first Barratt house was built over 60 years ago, getting everyone into a home that they love has always been a key goal of ours.
Just like Nicole, we now have 27 homeowners now living at North Gosforth Park and almost 60% of those are first-time buyers, which gives a great opportunity for the growth of the community.”
To find out more about North Gosforth Park, or to book a viewing, please visit: www.barratthomes.co.uk/northgosforthpark