First-time buyers offered 'bargain basement prices' this weekend

20-Jun-2008

One property developer in the north-east is seeking to aid first-time buyers "for one weekend only".

According to the region's Evening Gazette, construction giant Barratt is offering retail-style "bargain basement prices" on properties at two Teeside sites.

"We have always tried to help homebuyers and the Summertime Sale is just one of a variety of ways in which we make homebuying more affordable," the firm's David Simpson remarked to the paper.

"Other typical ways include help with the deposit, stamp duty paid and equity share schemes," he added.

Houses at Mandale Park, Thornaby and The Chase in Ingleby Barwick will see up to £20,000 slashed off prices as part of the sale, organised amid anticipation of further interest rate rises.

Letting agent Nathan Robinson told the newspaper "heavily-discounted sale prices" not only facilitate affordability for first-time buyers, but also promise to invigorate the buy-to-let market.

At another development aimed specifically at first-time buyers in Redcar, buyers need only provide a £99 deposit to secure a property, with building firm G2 also covering legal fees up to £600.

Part of the Taylor Wimpey group, the firm focuses on developments dedicated to first-time buyers and key workers which are not open to investors.

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CML figures indicate highest deposits in 3 years Homebuy lifeline offered to Crewe residents

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