Miller Homes offers NewBuy

Miller Homes offers NewBuy

It goes without saying that it’s been a tough couple of years for the property market not only for housebuilders like ourselves but for people looking to make any kind of move onto or up the property ladder. However there are indications that the market is beginning to show some signs of recovery.

As we know one of the main challenges for potential homebuyers has been the ability to secure finance when they don’t have a huge deposit. We welcomed the launch of the government’s new mortgage indemnity scheme NewBuy earlier this year as it is designed to help homebuyers overcome this large deposit gap by enabling them to purchase a new build property with only a small deposit of 5-10%. Lenders participating in the scheme then provide a 90-95% mortgage for those who meet their qualifying criteria.

We see NewBuy as representing an achievable and responsible step towards boosting home ownership and helping further stimulate the housing market and as such are pleased to now include it within the range of incentives we can offer to those looking to buy a new Miller home.

NewBuy is now available on our properties in England up to the value of £500000 subject to satisfying lending criteria.

What we see as the real benefit of this scheme in particular is that it’s not just for first time buyers so anyone even those who already own their home and want a move up the property ladder is eligible to apply.

We have enjoyed success in the past with government-backed schemes such as HomeBuy Direct and FirstBuy. We are confident that we will achieve similar success with NewBuy and continue to play our part in keeping the market moving in the right direction.

Chris Endsor
Chief Executive
Miller Homes