Date published: 10/09/2012
A County Durham family who had been trying to sell their home for almost three years have now sold-up and purchased their perfect pad thanks to the Government’s NewBuy mortgage scheme.
Police officer Peter Newman and his wife Alison, along with their children, four-year-old Katie and 18-month-old Sophie, have moved into a new four-bedroom detached home at Miller Homes’ Heather Lea Green development in Crook, having utilised the NewBuy scheme which required only a 5% deposit.
The NewBuy scheme, which Miller Homes is offering at its developments across England, 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.
As well as struggling to sell their home, the Newman family found it difficult to find a big enough deposit to secure them a large family home, before approaching Miller Homes for advice and support.
Elaine Jackson, sales advisor at Miller Homes’ Heather Lea Green development, explains: “Peter and his family were finding it difficult to sell their home in Crook having had had the property on the market for almost three years.
“When they showed interest in purchasing a home at Heather Lea Green I advised that they rent their current property and use the NewBuy scheme to enable them to purchase their new home. This has proved to be an ideal solution for them and allowed them to make a move which they didn’t think would be possible.”
Peter Newman (32) said: “The NewBuy scheme has allowed us to move into our dream home during a difficult financial time. We were beginning to give up hope after having our house on the market for almost three years and we were finding the whole situation really stressful.
“However, Miller Homes offered us some great advice and helped us realise we could move with NewBuy even without selling our current home and helped to make the entire moving process quick and hassle free.
“After visiting the Heather Lea Green sales centre we fell in love with ‘The Fyne’. The high ceilings give a sense of space and the house has an en-suite master bedroom and utility room, which we’ve always dreamed of having.”
NewBuy is available on Miller Homes developments in England, up to a maximum value of £500,000 subject to satisfying lender criteria. Further information is available at http://www.millerhomes.co.uk/Our-offers/NewBuy.aspx
Name: Marie Dunsmuir
Phone: 0870 336 5084