Barratt sees boom in new home sales
BARRATT says it will sell 20 per cent more homes this year than two years ago.
The increase has been fuelled by the Help to Buy equity loan scheme, which has attracted 10,000 reservations of new-build homes with nearly 3,000 sales already completed.
The scheme enables first-time and other buyers to purchase new homes worth up to £600,000 with only a five per cent deposit.
Mark Clare, chief executive of Barratt, says: “Customer interest in the Help to Buy scheme has been very strong as it addresses the issue of lack of mortgage finance at higher loan to values.
“Interest has been particularly encouraging from customers previously locked out of the market by high deposit requirements.”