Barratt Developments has signed up to a scheme that will allow borrowers to defer stumping up cash for a deposit when they buy a new-build property. Financial Times

The move by one of the UK’s biggest housebuilders is intended to make it easier for homeowners to buy a new-build home, and comes amid fears of a slowing housing market. Barratt said last week that sales had fallen in mid-September as consumers became more cautious.

The scheme, launched by Swiss insurance group Zurich, is aimed at customers who want to delay paying a cash deposit – which on a new-build home can easily be more than £20,000 – until their property has been built.