Get on the property ladder with FirstBuy - with deposits from as little as 4% †
What is FirstBuy?
FirstBuy is now available on a number of our developments across England and is a great opportunity for First Time Buyers.
If you qualify for FirstBuy, you will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). This means you will only need to fund the balance of the purchase price (as little as 80%) by means of a conventional mortgage (from a Qualifying Lending Institution), savings and any deposit where required.
Buying with FirstBuy could be the way to make your home owning dreams a reality!
With limited availability you need to register now to ensure you don't miss out.
With FirstBuy you could only need a deposit from £2,800 †
Worked example based on a £70,000 purchase price.
| You arrange mortgage |
76% |
£53,200 |
| Deposit |
4% |
£2,800 |
| We arrange equity loan |
20% |
£14,000 |
What are the benefits?
- Buyers qualifying for the scheme will have the opportunity to select one of the FirstBuy properties available from Miller Homes and will have the opportunity to purchase 100% of their home by paying 80% † of the value now, with both Miller Homes and the Government equally funding the remaining 20%.
- Buyers only need to raise a minimum of 80% † of the cost of the property through a combination of a mortgage and any deposit.
- The 20% equity loan will only become repayable after 25 years* or when the customer sells their home, whichever comes first. Plus there is no interest payable for the first five years and only a minimal deposit is required**.
- Buyers can settle some or all of the loan earlier in conjunction with the terms and conditions of the scheme.
- This is great news as it could give you a smaller mortgage and lower monthly mortgage payments.
Are you Eligible?
You can apply if you are a first time buyer with a household income of less than £60,000 a year. FirstBuy can also help people who have previously owned properties but are now unable to buy/move without assistance, for example in the case of relationship breakdowns or families who are over-crowded and need to buy a bigger home.
Click here to view the FirstBuy Buyers Guide for further information.
Please click on one of our regions to find out which developments benefit from FirstBuy.
- PAY 80% NOW
- OWN 100%
- NO INTEREST FOR THE FIRST 5 YEARS*
 - MINIMAL DEPOSIT REQUIRED**
-
- ON SELECTED PLOTS ONLY
What are the charges?
For the first five years there is no fee charged on the equity loan. At the start of the sixth year a fee is collected. This fee is 1.75% of the market value of the property at the time the loan was taken out multiplied by the outstanding percentage under the equity loan. The annual fee of 1.75% will be uplifted by RPI 1% p.a. The equity loan is provided by HCA and Miller Homes and is held as a joint second charge.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT FirstBuy is plot specific and cannot be used in conjunction with any other offer provided by Miller Homes. *Subject to terms and conditions. **A 4% minimium deposit may be required by lender. More may be required depending on circumstances and your lender's lending criteria. Photography represents a typical Miller Homes interior.
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