Part-buy, part-rent could be the answer to your home ownership dreams at Shoreland Park.
Shoreland Park, Hadston, NE65 9RJ
2, 3 & 4 bedroom homes from £119,950
At Miller Homes we know getting on the property ladder can be difficult so that's why we've teamed up with Heylo Housing to offer you Home Reach, a part-buy, part-rent option on new build properties.
Home Reach is Shared Ownership, where you buy a share of your chosen home and pay a low monthly rent on the part you don't buy. You get to choose whether you buy a bigger share of a cheaper home or a smaller share of a more expensive home.
Home Reach is a more affordable way to buy a home...
Smaller deposit requirements and lower monthly payments make it easier to buy the home you've always wanted.
You decide how much of your home you would like to buy, with shares up to 75%** of your chosen home.
You are able to purchase your share with either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, then you will need to allow for at least a 5% deposit. The larger the deposit, the lower your mortgage payments.
On the share you don't own, you will pay rent of 2.75% of the unsold value. This will be paid monthly by direct debit.
We've made reserving a brand new home quicker and easier with
Fast Track. You can complete a Fast Track form on our website for as many properties that you are interested in, which will speed up the reservation process on the home you finally purchase.
Discover it for yourself with a visit to our showhome and sales centre. Open daily from 10.30am to 5.30pm.
You are eligible to purchase a Home Reach property in England or Wales if:
• Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)
• You have a deposit (at least 5% of the share value)
• You are a first-time buyer or used to own a home, but cannot afford to buy outright now
• The shared ownership property will be your principle and only home
• You have passed a Homes England Affordability calculator, demonstrating you are financially able to purchase the share value and support the monthly costs
• You have registered with a Help to Buy Agent
View the Purchasers Guide to Home Reach
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE OR SHARED OWNERSHIP LEASE OR ANY OTHER DEBT SECURED ON IT
*The price displayed is for 50% purchased share, a further rent would be due. Home Reach part-rent, part-buy is where you buy a share of your chosen home and pay a low monthly rent on the part you don't buy. You can purchase 50% to 75% of your chosen home and you will be granted a 125 year lease. This means you will be able to live in your home as if you've bought it outright. You can buy more of your home in the future and stop paying rent on that part. On the share you don't own, you will pay rent of 2.75% of the unsold value. This will be paid monthly by direct debit.
**Starting shares vary across sites, please visit the sales centre on your chosen development to find out more.
Figures above are based on a 25 year repayment mortgage and a Home Reach lease with an initial rent of 2.75% on the unpurchased property value increasing by RPI + 0.5% each year. Additional service charges may be payable on properties with communal facilities or services. You will also need to consider the responsibilities and associated costs involved with owning a home (such as insurance and maintenance).
Photography represents a typical Miller Homes interior and exterior. Availability correct at the time of going to issue. Carpets and floor coverings are not included in our homes as standard.
Miller Homes reserves the right to withdraw the offers at any time
Photography represents a typical Miller Homes interior and exterior. CGI represents an artist's impression.
Price and availability correct at the time of going to broadcast.
Miller Homes Ltd Registered in Scotland Company Number: SC255430.
Registered Office: Miller House, 2 Lochside View, Edinburgh Park, Edinburgh, EH12 9DH
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