Date published: 29/05/2012
Housing developer, Miller Homes, is providing further assistance for homebuyers looking to get on to or up the property ladder after introducing the government’s NewBuy mortgage scheme on its properties.
The initiative has been designed to help overcome the large deposit gap for many potential homebuyers by enabling them to purchase a new build property with only a small deposit of 5-10%. Lenders participating in the scheme will then provide a 90-95% loan to value mortgage for those who meet their qualifying criteria.
Chris Endsor, Chief Executive of Miller Homes, said: “We are delighted to be able to offer NewBuy to our customers as we believe it represents an achievable and responsible step towards boosting home ownership and provides an important stimulus for the housing market.
“Sourcing finance to help make that all important first move onto the property ladder or take the vital second step has been extremely challenging for many people during the last couple of years and the real benefit of NewBuy is that it’s not just available to first time buyers, so anyone is eligible to apply.
“As a housebuilder which has succeeded in getting people moving with previous government-backed schemes, such as HomeBuy Direct and FirstBuy, we are confident of achieving the same success with NewBuy.”
Miller Homes currently has more than 50 developments across England featuring a range of properties which cater for the needs of a wide variety of buyers, from those looking to purchase their first home to growing families and downsizers.
NewBuy is available on Miller Homes developments in England, on properties up to a maximum value of £500,000 subject to satisfying lender criteria. For further information visit www.millerhomes.co.uk.
Name: Marie Dunsmuir
Phone: 0870 336 5084