New incentive for first time buyers in the North East

As Kate and Wills - the Duke and Duchess of Cambridge - announce they are to make Kensington Palace, the former home of Diana Princes of Wales, their official London Residence, Miller Homes is making it easier for young couples in the North East to gain a ‘palace’ of their own.

The award winning house builder has announced a new incentive called MiFamily Deposit©, that not only helps first time buyers in the North East but also rewards family members that assist with their deposit with an instant windfall.

The scheme enables family members to fund deposits of up to 20 per cent of the property purchase price.

Unlike other schemes in the marketplace, the family member will earn the equivalent of five years’ interest at five per cent on their investment, which will be paid in a lump sum to them when the purchaser legally completes the sale.

The new MiFamily Deposit© scheme also allows more than one relative to club together to help the new buyer and share the interest paid.

Miller Homes North East regional sales director Steve McElroy said: “We know from conducting our own research and speaking to buyers that many young people who would love to own their own first ‘palace’ can afford to pay a mortgage but simply cannot gather the hefty deposits required to buy the home of their dreams.

“Not all young people are as lucky as Prince William and Kate and get to live in a real palace for their first home, so we thought we would help young couples starting out in the North East to get their very own royal retreat. A person’s home is their palace after all!

“We have therefore designed an incentive that not only enables generous relatives the chance to earn some of their investment back, but it also helps new buyers onto the property ladder – something that we feel extremely passionate about.”

And as the Royal couple’s move is reported to be temporary, as they are believed to want a larger London residence in the long term, in order to have more space to begin a family, Miller Homes also has a Home Exchange incentive, MiSwap, where couples wanting to swap their home for a new Miller Homes can do so easily.

MiSwap allows buyers to swap their current home for one of Miller’s selected plots whether they are looking to upsize, downsize or swap like-for-like. No differentials required. Terms & Conditions apply.

Both incentives are available on selected plots on Miller Homes’ developments north of the region including Greenvale Park in Newcastle and Alexandra Chase in Cramlington, Northumberland.

At Greenvale Park, which is located in a prime area just off Stamfordham Road in Newcastle, beautiful eco friendly three-bedroom homes can be purchased from only £148,000. These homes have been built to a code level three standard, and come with lots of energy saving benefits. Miller Homes is also offering buyers free carpets if they reserve this weekend.

At Alexandra Chase in the picturesque village of Cramlington a stunning selection of three and four-bedroom homes are available from as little as £160,000. The striking four-bedroom detached Greene house style with integral double garage is available to view as a show home. For all reservations taken this weekend Miller Homes is also giving away free carpets.

Visit millerhomes.co.uk/explore/northeast for more details on Miller Homes range on incentives available.