Wavensmere Homes Launches ‘Own New’ Discounted Mortgages at Barrelman’s Point in Suffolk

Wavensmere Homes has teamed up with finance firm Own New to offer reduced mortgage rates from below 0.48% at its £130m Barrelman’s Point development on the Shotley Peninsula in Suffolk.  

A range of low rate mortgages – from lenders including Halifax and Virgin Money – are available to new purchasers at the landmark coastal residential scheme for the first two or five years. The 58-acre former HMS Ganges Royal Navy Training Establishment is delivering 303 eco-focused houses, set amongst scheduled ancient monuments, listed buildings, and extensive Public Open Space. Barrelman’s Point is located off the B1456 in the Shotley Gate Conservation Area at the southern end of the Suffolk Coast & Heaths AONB.

Over 50% of the first phase of 81 high specification homes have already been matched with buyers at the off-plan stage, with more residents moving in this autumn. The range of three-, four- and five-bedroom houses are priced from £365,000 to £525,000. Each house features an air source heat pump, a 7kW EV car charging point, and has been designed using a fabric-first approach to retain heat energy.

The reduced rate mortgages that are now available at Barrelmans Point will provide a significant boost to the home-buying dreams of those longing to live on this scenic stretch of Suffolk’s coastline. Wavensmere Homes’ financial advisors can now offer mortgages that slash monthly payments for two or five years.

Our ‘Rate Reducer’ initiative helps reduce monthly payments while first time buyers focus on making their new house into a home.  Rate Reducer mortgages are available to people with either a small or large deposit. Our range of reduced rates mean homeowners can pay off more of the capital value of their mortgage sooner, because the interest charged on their loan is lower.

– Eliot Darcy, founder of Own New

Significant reductions in the first few years of mortgage repayments will enable new Barrelman’s Point purchasers to splash out on other costs like furnishings and decoration.

First time buyers looking to move into one of our three-bedroom houses with a 10% deposit could benefit from a two-year rate of 1.90%, reduced from the standard rate of 5.09%. Mortgage payments would be £1,294.56, instead of £1,781.57, saving £487 per month. Or, the purchasers could opt for a five-year rate of 3.53%, reduced from a standard interest rate of 4.59%.

– Donna Smith, sales director at Wavensmere Homes

Barrelmans Point is bringing about the restoration and redevelopment of Shotley’s famous coastal landmark, which saw more than 160,000 navy recruits passed through, until its closure in June 1976. The meticulous construction programme by Wavensmere Homes and Galliard Homes is enabling people to live at the historic site again for the first time in nearly five decades. There are also detailed plans to preserve and reanimate three of the HMS Ganges listed structures, two scheduled ancient monuments, and two further non-designated heritage assets.

Over 12 months of restoration work by skilled specialists was recently completed on the Grade II listed 142ft naval mast. The preservation of the Grade II listed former military swimming pool is also planned, to transform it into an indoor racquets centre for community use. Meanwhile, the historic Nelson Hall – a former drill hall – is set to be restored and redeveloped to create a potential public library facility, meeting hall, and large café space.  

An additional proposed amenity building is set to provide much-needed daily conveniences to the new residents and those already living in Shotley. Barrelmans Point is also delivering several landscaped public open spaces, new biodiverse meadow planting, tree lined avenues, and children’s play areas.

The name for the development gives affirmation to the person who would be stationed in the barrel of the foremast to aid navigation of the vessel. HMS Ganges Museum and Shotley Marina are both only a few minutes’ walk from the new development. The village of Shotley also includes a primary school and local facilities.

The B1456 leads to the A137, with the A120, A12, and A14 also easily accessible, providing convenient travel across the county and beyond. The historic city of Ipswich is five miles away, which includes a host of town centre amenities and visitor attractions. There are frequent services from Ipswich train station to London Liverpool Street, which take an hour.

The Barrelman’s Point show homes are open Monday to Saturday from 10am – 5pm, located off Nelson Avenue, Shotley, Ipswich, IP9 1FF. For further information, or to book a viewing, call 01473 233 966, or email info@wavensmere.co.uk