Househunters on the lookout for an affordable home in the West Midlands may find an exciting opportunity after the launch of a shared equity scheme in Wednesbury.

Barratt is offering a selection of 12 two-bedroom apartments at its Monarch's Gate development in the town, which are available under to buy under HomeBuy Direct.

The shared equity scheme allows potential buyers to pay just 70 per cent of the purchasing price at the outset, meaning the apartments are available for as little as £70,665.

Graydon Worthing, sales director for Barratt West Midlands, said the properties are targeting specifically at first-time buyers.

"These particular plots are available to buy off-plan, thus allowing purchasers the chance to customise the apartment and really make it their own without any of the hard work," he commented.

HomeBuy Direct is available to buyers with a household income of up to £60,000, who could not otherwise afford to buy a property on the open market.

Source: Direct News 28/07/09