NHS workers across the North East have received over £650,0001 towards a deposit on their dream home, thanks to the Barratt Developments NHS Deposit Contribution Scheme, which was launched by the housebuilder in May, including at nearby North Gosforth Park development in Gosforth and City Edge in Newcastle.
The scheme sees NHS employees receive a 5% contribution towards their deposit, up to £15,000, to help them buy a new home as a thank you for their hard work during the COVID-19 crisis.
Since the scheme was launched, Barratt Developments North East has seen great interest from prospective buyers, with 77 homes purchased using the NHS Deposit Contribution Scheme so far, totalling a deposit boost value of £672,278 to those who deserve it the most across the North East region.
The housebuilder has seen an overwhelming response to the scheme from first-time buyers, with 72% of purchasers in the North East using the NHS incentive to take their first step on the property ladder. The NHS incentive can also be used in conjunction with the government Help to Buy scheme, offering further support to those looking to purchase their first home.
One development that has been particularly popular with customers taking advantage of the NHS Deposit Contribution Scheme is Barratt Homes’ North Gosforth Park in Gosforth, with 67% of purchasers using the scheme since its launch. With a collection of two and three-bedroom homes, North Gosforth Park is located in the popular suburb of North Gosforth and offers easy access to the A1(M) as well as regular bus services to Newcastle and two metro stations nearby, making it great for those who need to commute.
Barratt Homes’ City Edge development in Newcastle has also seen a huge amount of success with the scheme, with 60% of purchasers using it. Featuring two and three bedroom homes just four miles from Newcastle city centre and only minutes away from the A1(M), City Edge is a popular development with both professionals and families.
Carl Sobolewski, Managing Director at Barratt Developments North East commented: “It’s brilliant to see so many NHS workers in the North East are making use of the NHS Deposit Contribution Scheme. The National Health Service has worked incredibly hard during the COVID-19 pandemic, and we are really pleased that the scheme is already benefiting those who deserve it the most. Our NHS scheme is one of many incentives that are available to prospective home buyers, and with low interest rates and Stamp Duty being scrapped, it’s an ideal time for buyers to purchase their dream home.”
Following the recent Budget announcement, in which the Chancellor declared there would be no Stamp Duty to pay on properties up to the value of £500,000 on sales taking place before 31st March 2021. It’s estimated that the scrapping of Stamp Duty will benefit nine in ten homebuyers in England and Northern Ireland, saving £4,500 on the average purchase, making it an ideal time for those in search of their first or family home to take advantage of these savings across the region.
For more information about Barratt Developments’ nearby developments, or to book an appointment, please visit: www.barratthomes.co.uk