Househunters on the lookout for affordable homes in the north east have been given a helping hand from developer Barratt, which has just had extra developments approved for the HomeBuy Direct shared equity scheme.

Affordable homes at Newbiggen-by-the-Sea, Hebburn, Blackhall Rocks, Consett, Kirk Merrington, Sacriston, Wingate, Middlesbrough, Stockton and Thornaby are now available under HomeBuy Direct.

The scheme means buyers could move into a new two-bedroom home with a mortgage of just £73,850, as 30 per cent of the purchase price is taken care of through an equity loan which is interest-free for the first five years.

Steve Mariner, sales manager at Barratt North East, said the firm has had a "tremendous response" from buyers looking to purchase their homes through a shared equity scheme.

"This shows the enormous demand for new homes here," he commented.

"People who have been priced out of the market for years can see this is an outstanding opportunity to buy."

The Barratt company was established in 1958 in Newcastle-upon-Tyne.
Source: 14/08/09