Developer offers more help to North East homebuyers

Leading housing developer, Miller Homes, will be helping potential homebuyers in the North East on all stages of the property ladder make their next move following the launch of the Government’s new Help to Buy scheme.

Miller Homes will be offering the scheme, which is now available to home movers as well as first time buyers, at its developments across the region.

Help to Buy will offer assistance for buyers who only have a small deposit of around 5% through the provision of a 20% equity loan from the Government for those who meet the qualifying criteria, meaning buyers only need to secure up to a 75% mortgage from a bank or building society.

This is an extension of the existing FirstBuy scheme and applies to new build properties up to the value of £600,000 in England.

Chris Endsor, Chief Executive of Miller Homes, said: “We are delighted to be able to offer Help to Buy to our customers. The introduction of this initiative provides another welcome boost to the housing market by offering more help for those who only have a small deposit.

“Increasing the supply of low deposit mortgages to a wider range of people, including those who are looking to move up the ladder as well as first time buyers, will have a positive impact on the market overall.”

Miller Homes currently has 10 developments located across North East 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. Amongst Miller Homes’ County Durham developments is The Meadows in Framwellgate Moor, Cobblers Hall in Newton Aycliffe, The Pastures in Darlington and Mariners Way in Seaham.