First time buyers 'offered homes for down payment of £99'

28-Jun-2007

First time buyers looking for innovative ways to get their feet onto the property ladder have been alerted to the fact that a selection of homes in Southampton have been made available as part of a "move in for £99" deal.

The 'Citipads' that qualify for the deal, available as part of Barratt Homes' Oceana Boulevard development, will see the developer pay stamp duty, legal fees and the deposit for such residences.

Instead a simple down payment of £99 is all that is needed for buyers to move into the property, sales negotiators have advised.

"First time buyers are being given the chance to escape the rental trap and move into their own brand new Barratt Homes property for a down payment of just £99 on selected apartments," commented Barratt Homes dsales negotiator Jodie Wincomb.

"Time after time we see people unable to escape the trap of rental accommodation because rents are too high for them to save for a deposit and moving costs, especially if they are also paying off a student loan," the representative added.

The news comes as first time buyers have said they would be prepared to pay five or even six times their salary in order to secure a mortgage on a property.

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