FirstBuy offers boost for first time buyers

First time buyers in Leicestershire have been handed a boost with the news that Miller Homes, the nation’s largest privately owned housebuilder, is offering the government’s latest purchase assistance scheme, FirstBuy on a number of its local developments.

FirstBuy is a scheme designed to help first time buyers into affordable home ownership and is expected to assist around 10,500 buyers onto the property ladder over the next two years.

Buyers qualifying for the scheme will have the opportunity to select one of the FirstBuy properties available from Miller Homes and will be able to purchase 100% of their home 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.

In recent survey commissioned by Miller Homes, nearly 53 per cent of potential buyers said that they were unable to purchase as they haven’t got enough for a deposit, whilst 30 per cent couldn’t get a big enough mortgage – both issues that FirstBuy aims to address.

Paul Walters, senior sales manager for Miller Homes East Midlands, said: “We are delighted to confirm the developments that will be offering FirstBuy. After the success of HomeBuy Direct last year, we are expecting the government’s latest scheme to give a much needed boost to first time buyers in the region.

FirstBuy is now available at selected Miller Homes’ developments nationwide including Stretton Glen in Great Glen where a range of 3-5 bedroom homes are currently available, with prices starting from £179,950 for The Stretton, a 3 bedroom semi-detached house, and £284,950 for The Glenmuir, 4 bedroom detached home.

A special episode of Miller Homes TV is now available to guide viewers through all they need to know about FirstBuy. Visit millerhomes.tv to view the latest episode on Miller Homes’ very own online TV channel.