is the easy way to buy your new home without having to pay the full purchase price up front and because is not a Shared Ownership scheme you own 100% of your home from day one (The loan will be secured on your new home). Click here to read about our customers who have taken advantage of the scheme.
Here's how it works:
- Simply arrange your own finance for 80% of the purchase price and Miller Homes will provide a loan for the remaining 20%.
- You repay the loan by paying back 20% of the value of your home when you sell or transfer it or after 10 years, whichever comes soonest.
- If the value of your home stays the same or falls, you will pay back the same or less than you borrowed but if the value increases you will have to pay back more.
Look out for the logo on each development and contact our sales advisers for further information
SOME EXAMPLES You buy a Miller Home costing £150,000. You raise a first mortgage for £120,000 (80%) from your bank or building society. We lend you the remaining £30,000 (20% secured on your own home) through
. 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 £32,000; or after 2 years and the value of your home has fallen to £140,000, the amount due under your
loan would be £28,000 (remember house prices can go up or down).
The value of your home will be the agreed sale price assuming a transaction between unconnected parties on the open market. In both examples you would have to repay any monies owing under your first mortgage before you pay off your 
loan.
YOUR QUESTIONS ANSWERED
Q. HOW DO I FUND THE PURCHASE? A. Miller Homes cannot provide any financial advice. However we do have a list of Independent Financial Advisers 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 20% of the price.
Q. HOW DO I FIND OUT WHICH PROPERTIES IS AVAILABLE ON?A. The
scheme is available on selected properties on selected developments. Look out for the
logo on each development on our website and contact our sales advisers for further information.
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 20% 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 need to raise the money by selling your home and/or borrowing it from another lender. However, 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?A. To be eligible for this scheme the
property must be your only property.
Q. ARE THERE ANY OTHER CONDITIONS?A. The
scheme 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 full conditions apply; full details and written quotations are available on request. Exchange contracts within 28 days and completion/settlement as specified.