Barratt Lures Buyers with Free Insurance

Article excerpt

ONE of Britain's biggest house builders is offering new buyers a way to "recession-proof" their property in a bid to encourage sales.

Barratt Homes is giving away a year of the insurance on new developments in London so the owner is covered for up to three years if he or she is made redundant. The deal -- thought to be worth about Pounds 1,000 -- is the latest example of a developer offering sweeteners to potential buyers.

A spokeswoman for Barratt London said that the insurance would be offered with every new home bought, and would "insure buyers against being unable to make their mortgage re-payments through no fault of their own".

It applies to 500 Barratt homes on sale in London and the Thames Gateway, including developments in Kennington Park Square, and a block called The Sanctuary, in Wimbledon.

The offer coincides with a poll today by YouGov which reveals that almost 90 per cent of Londoners still aspire to home ownership, despite fears of falling house prices and job losses. …