Could ‘MiWay’ be your way to home ownership?

Miller Homes East Midlands has unveiled two early autumn initiatives to go the extra mile to help prospective buyers secure the home of their dreams. The housebuilder is not only extending its autumn evening opening hours to 12:30-7:30pm on Thursdays until early October, but it's also holding a series of MiWay shared equity scheme evenings throughout September and early October.

The open evenings will take place at Sales Information Centres across Miller Homes East Midlands' developments and will let customers know the workings of the scheme that offers them the chance to pay "75% now, 25% later" on many houses in its portfolio. Also on hand will be financial advisors, who along with Miller Homes sales advisors, will be able to let prospective housebuyers know on the evening if they qualify for the MiWay scheme.

Under MiWay, buyers will own 100% of their property, but only pay 75% of the purchase price up front. But it's not a traditional shared equity scheme, instead offering two major advantages to would-be buyers.

Firstly, Miller Homes will give you a 0% APR loan for the remaining 25%, which you repay when you sell or transfer your home, or after ten years, whichever comes soonest.

Miller Homes is also offering to share some of the risk of any potential fall in house prices, as when the loan term is up, the amount repayable will depend on the open market valuation of the property at that time. Therefore the remaining 25% - whatever the property's value.

Derbyshire MiWay evenings will take place on the following dates:

11 September
Fernwood Place, Littleover
Highfields Park, Derby

2 October
Cavendish Wharf, Shardlow

9 October
Centro West, Derby

General late night open evenings are throughout the September and early October.

For more information, log on to Millerhomes.co.uk.