Couple make their first Miller move with FirstBuy
A young couple from County Durham are providing inspiration to would-be home owners after managing to get onto the property ladder despite their doubts thanks to house builder Miller Homes.
Emma Curran, 25 and her partner of 10 years John Wardle, 25 both previously lived with their parents in Newton Aycliffe and, because they believed that they couldn’t get a big enough deposit for a mortgage, thought the only way they could afford to move into together would be to rent a property.
After scouring through the property pages for accommodation to suit their pocket, the couple came across an advert for the Government’s equity loan scheme Firstbuy, which house builder Miller Homes was offering on homes at its Cobblers Hall development in Newton Aycliffe, County Durham.
The advert explained that the couple could easily afford to buy a brand new home with the FirstBuy scheme as they only needed a minimal deposit and by breaking down what the monthly mortgage repayments could be showed it was cheaper than average monthly rental costs in the area.
Firstbuy is the Government’s latest purchase assistance scheme and it is expected to assist around 10,500 buyers onto the property ladder over the next two years.
If you qualify for the Firstbuy scheme you will have the opportunity to select one of the Firstbuy properties available from Miller Homes of which you will own 100% of the property by paying up to 80% of the value now, with both Miller Homes and the Government equally funding the remaining 20% in the form of an equity loan.
Emma and John purchased a three-bedroom Gissing house type with detached single garage at Miller Homes’ Cobblers Hall development priced at £155,000 but with the assistance of FirstBuy they only paid 80% of the price now, with the rest supported by a low interest loan from the government and Miller Homes.
Emma said: “John and I have been going out with each other for 10 years and we really felt that now was the time for us to settle down and get a place of our own. We had outgrown living with our parents and wanted our own space and independence.
“After hearing all the gloomy news headlines about banks not lending and the number of people buying homes at an all time low, I thought it would be impossible for us to buy a home of our own and thought renting was our only option.
“We saw an ad for the Miller Homes Firstbuy scheme in our local newspaper and went down to the sales office and show room for a look around. The Miller Homes sales adviser had lots of experience in schemes to help first time buyers and put us in touch with their team of independent financial advisers who guided us through the processes and lo and behold, we found our dream home and a package we could afford with FirstBuy.
“When we thought there was no hope, Miller Homes really did show us that buying was possible and cheaper than renting.”
In the sought-after residential area on the northern edge of Newton Aycliffe, Cobblers Hall is a spacious, family friendly development that combines its peaceful setting with convenient access to the A1, Durham and Darlington.
For more information, visit millerhomes.co.uk.