Get on the property ladder with FirstBuy

- with deposits from as little as 4%†

What is FirstBuy?

FirstBuy is now available on a number of our developments across England and is a great opportunity for First Time Buyers.

If you qualify for FirstBuy, you will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). This means you will only need to fund the balance of the purchase price (as little as 80%) by means of a conventional mortgage (from a Qualifying Lending Institution), savings and any deposit where required.

Buying with FirstBuy could be the way to make your home owning dreams a reality!

With limited availability you need to register now to ensure you don't miss out.

With FirstBuy you could only need a deposit from £2,800†

Worked example based on a £70,000 purchase price.

You arrange mortgage	76%	£53,200
Deposit	4%	£2,800
We arrange equity loan	20%	£14,000

What are the benefits?

Buyers qualifying for the scheme will have the opportunity to select one of the FirstBuy properties available from Miller Homes and will have the opportunity to purchase 100% of their home by paying 80%† of the value now, with both Miller Homes and the Government equally funding the remaining 20%.
Buyers only need to raise a minimum of 80%† of the cost of the property through a combination of a mortgage and any deposit.
The 20% equity loan will only become repayable after 25 years* or when the customer sells their home, whichever comes first. Plus there is no interest payable for the first five years and only a minimal deposit is required**.
Buyers can settle some or all of the loan earlier in conjunction with the terms and conditions of the scheme.
This is great news as it could give you a smaller mortgage and lower monthly mortgage payments.

Are you Eligible?

You can apply if you are a first time buyer with a household income of less than £60,000 a year. FirstBuy can also help people who have previously owned properties but are now unable to buy/move without assistance, for example in the case of relationship breakdowns or families who are over-crowded and need to buy a bigger home.

Please click on one of our regions to find out which developments benefit from FirstBuy.

PAY 80% NOW
OWN 100%
NO INTEREST FOR THE FIRST 5 YEARS*
MINIMAL DEPOSIT REQUIRED**
ON SELECTED PLOTS ONLY

What are the charges?

For the first five years there is no fee charged on the equity loan. At the start of the sixth year a fee is collected. This fee is 1.75% of the market value of the property at the time the loan was taken out multiplied by the outstanding percentage under the equity loan. The annual fee of 1.75% will be uplifted by RPI + 1% p.a. The equity loan is provided by HCA and Miller Homes and is held as a joint second charge.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT FirstBuy is plot specific and cannot be used in conjunction with any other offer provided by Miller Homes. *Subject to terms and conditions. **A 4% minimium deposit may be required by lender. More may be required depending on circumstances and your lender's lending criteria. Photography represents a typical Miller Homes interior. An example of how FirstBuy works is as follows: Purchase price £120,000, Mortgage £91,200 (76%), Deposit £4,800 (5% after loan applied i.e. 4% of purchase price), Equity loan £24,000 (20%) (BDW £12,000/10% and HCA £12,000/10%).