Variety Of Purchase Schemes From Housebuilder In County Durham

Barratt Developments – a former WhatHouse? Housebuilder of the Year which sells brand new properties under its Barratt Homes and David Wilson Homes brands – is helping buyers across County Durham across the price spectrum with a number of different ways to purchase at its current range of developments in the county.

Home Reach

For buyers who meet the eligibility criteria, Home Reach is an opportunity to purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with housing provider heylo as the landlord. The scheme is offered on selected plots at developments across England and provides all the benefits of homeownership but requires a much smaller deposit (5% of the share price) and a smaller mortgage than when purchasing outright. Over time, owners can buy further shares as their budget allows, until they own 100%.

Home Reach is currently available on these County Durham sites from Barratt:

The Orchard at West Park, Darlington – the three-bedroom ‘Hadley’ (£127,500 for a 50% share), ‘Maidstone’ (£104,995 for a 50% share), ‘Ellerton’ (£105,995 for a 50% share), ‘Moresby’ (£117,500 for a 50% share), and ‘Denby’ (£124,995 for a 50% share).

Burdon Green, Coxtoe – the three-bedroom ‘Ellerton’ (from £99,995 for a 50% share), and ‘Maidstone’ (£103,995 for a 50% share).

Elwick Gardens, Hartlepool – the three-bedroom ‘Maidstone’ (£103,500 for a 50% share), ‘Ellerton’ (from £104,995 for a 50% share), and ‘Denby’ (£124,995 for a 50% share).

‘Ellerton’ house type

Discount to Market Value scheme

This initiative is promoted by Durham County Council. Selected plots are only available for customers who meet affordability and other eligibility criteria. They pay a percentage of the full market price (for example 70%) but have all the benefits of 100% ownership – so there is no rent payable on the remaining 30%. When they come to sell the home, they will be doing so for their percentage of the market value, so that the next owner also benefits from the scheme. The vendor receives any profit margin on the sale.

Discount to Market Value is currently available on these County Durham sites from Barratt:

Burdon Green, Coxhoe – the three-bedroom ‘Ellerton’ from £149,995.

Highgrove at Wynyard Park, Stockton on Tees – the two-bedroom ‘Kenley’ from £148,000.

Elwick Gardens, Hartlepool – the three-bedroom ‘Maidstone’ from £157,500.

‘Hollinwood’ house type

Part Exchange

For current homeowners, thoughts of the costs and hassles of the property chain might put them off the idea of moving home, but with Barratt’s new builds, the company offers the benefits of Part Exchange on selected plots, under terms and conditions. The housebuilder offers a price based on independent agents’ valuations of your existing home and if you agree with it, will become a cash buyer for it – so there’s no chain to find a seller, there are no estate agency costs (the company pays those) and you can move from your old home to the new one when it is ready. Barratt has some variations, such as Part Exchange Guarantee and Part Exchange Plus, which can offer different terms and benefits.

Part Exchange is currently available on these County Durham sites from Barratt:

Elwick Gardens, Hartlepool – the three-bedroom ‘Moresby’ from £224,995, and ‘Denby’ from £244,995.

The Orchard at West Park, Darlington – the four-bedroom ‘Windermere’ from £264,995.

Burton Woods, Spennymoor – the four-bedroom ‘Chester’ from £244,995.

Burdon Green, Coxhoe – the three-bedroom ‘Moresby’ from £224,995.

Highgrove at Wynyard Park, Stockton on Tees – the three-bedroom ‘Denby’ from £274,995, the three-bedroom ‘Eckington’ (from £299,995), the four-bedroom ‘Hollinwood’ (from £359,995). and the four-bedroom ‘Kingsley’ from £324,995.

Find out more about current Barratt Homes developments in County Durham.

Find out more about current David Wilson Homes developments in County Durham.

Find out more about current Home Reach developments in the North East of England.

Find retirement homes in County Durham
Find new homes in County Durham