Barratt offers new protection on price

12:42pm Thursday 25th September 2008

IF you want to buy a new home in North Yorkshire, but fear its price might drop in the next few years, then help is at hand.

Barratt York has unveiled its unprecedented three-year price guarantee scheme to provide peace of mind in the current market.

The way it works is simple – if you want to sell your house within three years and the value is lower than what you paid for it, Barratt will refund the difference up to a maximum of 15 per cent.

In other words, even if house prices fall 15 per cent by 2011, you won’t be out of pocket.

It is thought to be the first time that any major homebuilder has offered to protect their customers from price falls.

Paul Hogan, sales director at Barratt York, said: “We know that many people want to buy a new home at the moment but are being put off by what they read about house prices.

“So we looked at what we could do to help and are offering to guarantee the price of their new home.

“Customers who buy one of our homes with a price guarantee will only need a mortgage for 85 per cent of its value.

“That’s because we’ll give them a deferred loan for the rest and they can pay us back when they can afford it, up to ten years upon completion.

“It all adds up to a big helping hand for buyers.” Homes currently available for Barratt’s price guarantee scheme in North Yorkshire are located at Staynor Hall, in Selby; The Mile and Reflections @ Riverside, in York; Hay-a-park, in Knaresbrough; The Park, in Harrogate; West Green Park, in Pocklington; Burley Grange, at South Milford; Gilesgate, at Catterick; and River Meadows, at Burniston near Scarborough.

Showhomes and the sales centre are open Thursday to Monday from 11am to 6pm.

Phone 0800 590 733 for further information, or visit www.barratthomes.co.uk