Stewart Milne Homes is helping first time buyers looking for a new home in Scotland with a new assistance scheme offering a 90% mortgage, mortgage protection insurance and a host of other benefits on homes at several of its popular property developments.
There is a deferred payment mortgage option where the buyer has 100% ownership while paying for a loan of just 80%-85% of the value of the home, the balance provided as an equity-share loan from the housebuilder. In addition, there’s also no Stamp Duty to pay on homes which cost less than £250,000.
Apartments at Athena Grange in Prestonpans are available with the new First Time Buyer Plan from Stewart Milne Homes
John Slater, managing director for Homes at Stewart Milne Group, explains: “Our original First Time Buyer Plan proved an outstanding success, and we remain committed to ensuring homeownership remains an affordable option. Our new plan is specifically designed to help customers secure a manageable mortgage and alleviate some of the costs of buying, and moving into, a first home. With monthly mortgage repayments of as little as £368, we are confident our new First Time Buyer product will prove equally effective.”
The package provides a number of benefits that will delight prospective first time buyers struggling to afford their own home:
- A 90% mortgage is available
- Mortgage protection insurance
- Carpets, curtains and light fittings are included
- A furniture package for the living room, master and guest bedrooms
- A plasma TV and home cinema system
- A fully fitted kitchen
Properties with two to four bedrooms are available on a number of Stewart Milne Homes development across the country to first time buyers under the new scheme, including:
New family homes in Aberdeenshire at Broadshade in Westhill, with three bedrooms, a walk-in wardrobe to the master bedroom and separate utility room downstairs for £246,995 (£231,996 with an 80%/20% deferred payment mortgage).
New houses in Ayrshire at Allandale in Saltcoats, for example, a two-bedroom mid-terrace for £132,000 (or £112,200 with the 85%/15% deferred payment mortgage) or a three-bedroom, semi-detached house with garage for £159,500 (£135,575 with the shared equity scheme).
New apartments in East Lothian at Athena Grange in Prestonpans, including two-bedroom style with en-suite facilities to the master bedroom and a balcony, which can be purchased with an 80%/20% shared equity arrangement for £122,400 (full price £153,000).
New homes in Lanarkshire at Morningside Gardens in Wishaw, including a two-bedroom property which has fitted wardrobes to both bedrooms and a separate study, costing £125,000 (£106,250 with an 85%/15% shared equity plan).
New houses in Midlothian at Hopefield View in Bonnyrigg, with a three-bedroom design at £184,000 and four-bedroom terrace at £202,500 (both property types are available with an 85%/15% deferred payment mortgage).
by Keith Osborne
Posted by Keith Osborne 
