Climbing rents in Bognor Regis have now reached as much as £1,499 a month, yet just outside of the town, first time buyers can expect to pay monthly mortgage costs of £1,323. This calculation is for a two-bedroom home at Barratt Homes’ Ryebank Gate in Yapton over 40 years at 4.37% interest rate.

Known for its local history and close location to the South Downs, Yapton offers a quiet village lifestyle in between Arundel and Bognor Regis. Yet with soaring rents in the two nearby towns, buyers at Barratt Homes’ Ryebank Gate can save nearly £200 a month on mortgage payments instead of renting, while owning either a two- or three-bedroom home, with prices starting from £299,995.

The housebuilder is also offering a range of incentive including a deposit assist scheme to help buyers to get onto the property ladder and reduce mortgage rates, as well as its Move Maker scheme which supports buyers with their move by arranging the sale of the previous home and covering estate agent fees.

Alex Dowling, Sales & Marketing Director at Barratt David Wilson Southern Counties added: “As we see rising rents across the country, it makes it harder to save now more than ever. But our Deposit Boost scheme is helping first time buyers save for a deposit and pay less in their mortgage payment, than to a landlord if they were renting.”

Having utilised the housebuilder’s Deposit Boost scheme at a nearby development in Finchampstead, buyers Joey and Lisa Wigglesworth secured an extra 5% towards their deposit to purchase their four-bedroom home. In further savings for buyers purchasing a new Barratt home, the highly insulated homes can reduce energy bill costs by 63%.

Joey Wigglesworth commented: “Our energy bills have gone down from £195 a month to just under £100 since we moved. We were happy to put more down on the mortgage knowing it would even out with a decrease in bills and running costs.”

Barratt Homes has a range of two and three-bedroom homes available at Ryebank Gate, with prices starting from £299,995 for a two-bedroom property.

A new phase is coming soon to Ryebank Gate, for more information visit www.barratthomes.co.uk or call 0333 355 8499.

*DISCLAIMER: Figures were sourced on 30th October.