100% mortgage at Barrelmans Point, Shotley

A recent announcement of a 100% mortgage by Skipton Building Society, requiring no deposit to purchase your first home, is what renters’ have hoped for, for many years. But how can you take this news and turn it into buying your first home at Barrelmans Point? We’ve gathered many resources to pin down what the criteria is and how you can get started on your home-buying journey.

Are you eligible for a no-deposit mortgage?

There has been some confusion since the news broke, in regards to the type of property you can purchase with a 100% mortgage; with talks that it is not allowed on new builds but, this isn’t the case. You can purchase a new build home with a no-deposit mortgage but not an apartment, meaning you can make your move onto the property ladder whilst saving up to £3,117.85 per year in comparison to purchasing a second-hand home! A few other factors are…

  • Must have been renting a property for 12 consecutive months in the last 18 months, with no missed or late payments
  • Must have been up-to-date with all household bills for 12 consecutive months in the last 18 months such as council tax
  • Not having missed any other repayments over the last 6 months such as car finance
  • You will have to pass a credit check 
  • You will have to reach the affordability criteria
  • Over 21 years of age

Buying a home at Barrelmans Point

Now you’re familiar with the criteria required, you can begin to explore the development. Barrelmans Point, located on the Suffolk coast in Shotley Peninsula, is a luxury coastal development of 295 homes. With a range of 2, 3, 4 & 5-bedroom homes, the development has a lot to offer whether you’re looking for your first house or your forever family home, this idyllically located site has a lot to offer.

You will find all our homes are fitted with Air Source Heat Pumps, that on average, can save you up to £1,500 per year on your household bills. Externally you will also find a 7Kw EV Charging point and a beautifully landscaped front and rear garden, at no additional cost.

Moving inside the property, you’ll find a traditional shaker-style kitchen with luxury vinyl flooring that sets the stage for a beautiful living experience. The living area is flooded with natural light thanks to a set of french doors that open out onto the beautiful patio. From there, you can explore the space and be amazed by the high specifications offered as standard, throughout the home you choose. 

Our team is on-hand to assist you from start to finish of purchasing your Wavensmere home, contact us today for further information, to book a site visit or to speak to our financial team about taking your first steps to a 100% mortgage.

To explore the investment opportunities available, contact our team today

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