You buy a Miller Home costing £150,000. If you qualify for the maximum 15% loan, you raise a first mortgage for £121,125 (80.75%) from your bank and pay a deposit of £6,375 (this is 5% of the equity share). We then lend you the remaining £22,500 (15% secured on your home for up to 10 years) through MiWAY at 0% interest for 5 years, 4% per annum interest for the remaining term. 5.5% APR typical. If you decide to sell the property after 8 years and the value of your home has increased to £160,000, the amount due under your loan would be £24,000. Interest of £2,700 will have been paid (4% per annum, payable monthly). Or if you sell after 2 years and the value of your home has fallen to £140,000, the amount due under your loan would be £21,000* (remember house prices can go up or down).