Q. HOW DO I FUND THE PURCHASE A. Miller Homes cannot provide any financial advice. We do however have a list of Independent Financial Advisors who are familiar with the scheme and we can put you in touch with them. They can help you find a suitable mortgage for the main part of the price (which your bank or building society will secure by a first mortgage on the property). The loan will cover the remaining 25% of the price.
Q. DOES APPLY TO ALL MILLER PROPERTIES? A. No, the scheme is only available for purchases of selected properties. Full details are available on request.
Q. WHAT HAPPENS AT THE END OF THE TEN YEARS WHEN THE LOAN BECOMES REPAYABLE? A. Your loan will become repayable after 10 years. You will be required to pay us 25% of the market value of your home at that time. If we cannot agree upon a market value, an independent valuer will determine it. If you do not have your own money to pay this you will have to raise the money by selling your home and/or borrowing it from another lender. We will consider cases of financial hardship sympathetically and positively and we may consider extending your loan, subject to security and status.
Q. CAN I REPAY THE LOAN EARLY OR IN PART? A. If you are able to do so, you can voluntarily repay the Miller loan at any time during the 10 year period based on the open market value at the relevant time. Alternatively, you can make up to four part payments, please ask for details.
Q. CAN I USE TO BUY A PROPERTY TO RENT OUT? A. No, the scheme is only available for people looking for a place to live.
Q. ARE THERE ANY OTHER CONDITIONS? A. The loan cannot be used in conjunction with any other offer. Miller Homes reserves the right to withdraw the scheme at any time. Credit is available subject to security and status. Credit provided by Miller Homes Limited of Miller House, 2 Lochside View, Edinburgh EH12 9DH. Miller Homes reserves the right to decline your credit application. Loan terms and conditions apply; full details and written quotations are available on request. Exchange contracts within 28 days and completion/settlement as specified.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. |