Miller Homes to offer MI New Home

Housing developer, Miller Homes, is providing further assistance for homebuyers in Scotland after introducing MI New Home on properties at the majority of its Scottish developments.

The scheme, which has been developed by the home building industry and is supported by the Scottish Government, is designed to get the Scottish housing market moving again and help support the country’s economy.

Through MI New Home, participating lenders will offer up to 95% mortgages on new homes up to the value of £250,000, enabling those who meet the qualifying criteria with the opportunity to purchase a new build property with only a small deposit of 5%.

David Knight, Managing Director for Miller Homes, Scotland, said: “We wholeheartedly welcome the launch of MI New Home and are delighted to be able to offer the scheme on our properties in Scotland.

“We are aware of just how challenging it has been for people over the last couple of years to take a first step onto the property ladder or make a move up due to the lack of finance available and the need for significantly large deposits.

“MI New Home will open up the market for people who want to move but can save only a small deposit of 5% and one of the real benefits of this scheme is that it is not just aimed at first time buyers so anyone is eligible to apply.

“We believe MI New Home represents an achievable and responsible step towards boosting home ownership and by providing an important stimulus for the housing market, this scheme will also have a positive impact on the Scottish economy in general.”

Miller Homes developments across Scotland feature 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.

MI New Home, which has been developed by home building industry body Homes for Scotland in conjunction with the Council of Mortgage Lenders and insurance specialists JLT and supported by the Scottish Government through the use of a government guarantee, is available on the majority of Miller Homes developments across Scotland, on properties up to a maximum of £250,000 and subject to satisfying lender criteria.  Further information from www.millerhomes.co.uk/minewhome.