Downstairs you will find a spacious living room that flows into the open-plan kitchen/dining room. This stylish and practical kitchen boasts a breakfast bar, cleverly concealed laundry zone and French doors leading out to the garden.
Upstairs there are three bedrooms and a family bathroom. The master bedroom benefits from a walk-in wardrobe and an en-suite shower room finished to a superb standard.
The Scottish Government has launched its new national pilot scheme, helping first-time buyers with the deposit for a new home. Launched to provide a total of £150 million until March 2021, the new funding will help at least 6,000 people buy their first home, whatever its price.
Here we explain how it works and what’s in it for you.
What is the First Home Fund?
First Home Fund is a new Scottish Government shared equity scheme that aims to help aspiring first-time buyers onto the property ladder by providing up to £25,000 as an equity loan towards the purchase of a new home in Scotland.
What is a Shared Equity Scheme?
Shared equity means the purchasing cost is split between yourself and, in this case, the Scottish Government's First Home Fund. Scottish Government will secure their equity share on the home you are purchasing but you will own the property outright.
What type of home can I buy?
The scheme can fund the purchase of either existing properties or new build properties, including any Stewart Milne home from across Scotland.
The maximum First Home Fund contribution towards a Stewart Milne home is £25,000.
Can anyone use the funding?
The fund can only assist ‘first time buyers’. Confirmation of the buyer’s status must be provided by your solicitor.
What if I’m buying with someone else?
If you are making a joint application to the First Home Fund, only one of you needs to be a first time buyer.
What do you need?
Buyers must contribute a deposit of 5% of the purchase price (subject to lender requirements) and have agreed a mortgage of at least 25% of the property value. You will also have to pay an administration fee of £550 on application after you have reserved your new home but this is refunded if your application is unsuccessful.
Can I use other ‘help to buy’ schemes?
First Home Fund cannot be used with another equity scheme such as Help to Buy (Scotland). You can however still use a Help to Buy ISA or Lifetime ISA.
When do I need to repay this?
When you sell the home although, if you choose, you can repay the loan in full at any time before then at current market value. Meantime, however, there are no monthly repayments to be made on Scottish Government’s share of the loan.
How much do I pay back when I sell the house?
Again, you pay back the equivalent percentage. For example, if the Scottish Government committed 20% of the purchase value, you pay back 20% of the resale price at current market value.
Can I use the home purchased as a buy to let?
The home cannot be used as a let property; it must be your main residence.
Which lenders are offering mortgages for the First Home Fund?
• Glasgow Credit Union
• Leeds Building Society
• Lloyds Banking Group
• Scottish Building Society
• Scotwest Credit Union
The First Home Fund offers a greater flexibility to first time buyers, allowing them to benefit from lower interest rates available on lower ‘loan to value’ mortgages, without a limit on the property value. However, we would still recommend speaking to a New Homes’ Mortgage Specialist as every mortgage lender will have their own requirements.
Stewart Mine Homes is making driving home for Christmas extra special for one new homeowner this year!
Following the success of the 2019 competition, for a limited time only, if you purchase a new Stewart Milne Home at one of our participating developments you can be entered into our unique Christmas draw to win a brand-new BMW 1 series in Phytonic Blue.
All you need to do is reserve a new home before Sunday 6th December, with settlement or missives concluded on or before Friday 11th December 2020. See below for full terms and conditions.
Our exclusive Christmas offer is available at the following developments:
By entering into the Prize Draw persons agree to be bound by these Terms and Conditions.
THE PRIZE DRAW
1) The Promoter is STEWART MILNE HOMES NORTH SCOTLAND LIMITED, a company incorporated in Scotland under the Companies Acts (registered number SC545779) and having its registered address at Peregrine House, Mosscroft Avenue Westhill Business Park, Westhill, Aberdeen, United Kingdom, AB32 6JQ (the “Promoter”).
2) The Prize Draw will run from 11:00am on Friday 4th September 2020 (the “Opening Date”) to 17:00pm on Friday 11th December 2020 (the “Closing Date”).
3) To enter the Prize Draw persons must have completed a valid reservation (in accordance with clause 8.1 below) and completed missives (in accordance with clause 8.2 below) on an eligible new home. It is free to enter the Prize Draw. Persons may opt-out of the Prize Draw at any time before the Closing Date.
4) The Prize Draw is open to residents in the UK aged 18 years or over. In entering the Prize Draw, entrants confirm they are eligible to do so and eligible to claim the prize.
5) Employees of Stewart Milne Group Limited or its subsidiary companies who are eligible for the ‘Home Purchase Discount Scheme’ are excluded from entering the Prize Draw.
ELIGIBLE PROPERTIES AND CONDITIONS OF ENTRY
6) To be eligible for entry to this Prize Draw, persons are required to purchase a new property at one of the following developments (“Property”):
• Monarchs Rise, Arbroath
• Dunnottar Park, Stonehaven
• The Gardens, Crathes
• Charleston, Cove
• Silver Birches, Alford
• Den View, Kingswells
• Regency Place, Countesswells
• Jubilee Walk, Countesswells
• Ballumbie Rise, Dundee
• Leathan Green, Portlethen
Selected plots only, please see development sales consultant for more information.
7) There is no minimum spend on the purchase of the Property.
8) To be eligible to be entered into the prize draw, you must meet both of the following conditions:
8.1) You must have reserved a Property with us by no later than 17:30pm on Sunday 6 December 2020 (the “Reservation Date”). Any reservation made after the Reservation Date will not be an eligible entry for the Prize Draw; and
8.2) You must have either settled the purchase of the Property or concluded unconditional missives for the purchase of the Property between the Competition Starting Date* and the Competition Closing Date**. If you have not settled the purchase or concluded legally binding unconditional missives to purchase the Property by the Closing Date you will not be eligible to enter the Prize Draw.
8.3) *Competition Starting Date – 11:00am on Friday 4th September 2020 (the “Opening Date”)
8.4) **Competition Closing Date - 17:00pm on Friday 11th December 2020 (the “Closing Date”).
9) Only one entry per purchase of a Property is allowed.
10) The winner of the Prize Draw will be drawn randomly from all eligible entries. Where rules around social distancing and group gatherings allow, the winner of the Prize Draw will be announced at the Promoter’s Countesswells office: Stewart Milne Homes, Regency Place, Countesswells, AB15 8FJ at 14:00pm on Saturday 12th December 2020 (the “Announcement Event”).
Where rules around social distancing and group gatherings allow all eligible entrants must be able to attend and be physically present at the Announcement Event with a UK drivers licence or valid passport for identification. If an entrant cannot attend the Announcement Event, they may appoint a proxy representative to attend in their place, by notifying the Promoter and providing the proxy with express authority no later than 24 hours in advance of the Announcement Event. Where neither the entrant or their proxy representative can attend or participate in the Announcement Event, the Promoter reserves the right to disqualify the corresponding entry from the Prize Draw.
The Promotor reserves the right to amend the format of the Prize Draw should COVID-19 Scottish Government rules preclude them from holding a gathering.
11) The prize is a 2020 BMW F40 118i SE Sports Hatch 5-door B38 1.5i in Phytonic Blue (the “Prize”). The winner will be responsible for collecting the Prize as seen from the Promoter and for all insurance, road fund licence, transportation, maintenance and running costs from the time of collection.
12) The Prize is non-exchangeable, non-transferable, and is not redeemable for cash or alternative prizes.
13) The Promoter accepts no responsibility for any costs associated with the Prize and not specifically included in the Prize (including, without limitation, travel to and from the Announcement Event).
14) Car imagery used in marketing and advertising of the promotion are for illustrative purposes only and may not be exactly representative of the Prize.
15) For the avoidance of doubt, the missives concluded in respect of the sale of a Property are legally binding and enforceable regardless of whether or not an entrant is successful in the Prize Draw.
17) Any disputes in respect of the competition or these Terms and Conditions will be decided by the Promoter acting reasonably. The Promoter’s decisions made pursuant to the Terms and Conditions shall be final and binding.
18) The Promoter reserves the right to hold void, cancel, suspend, or amend the promotion where it becomes necessary to do so.
19) The Promoter shall not be liable for any loss or damage arising from entries.
20) These terms and conditions shall be governed by Scottish law, and the parties submit to the nonexclusive jurisdiction of the courts of Scotland.
21) To confirm eligibility for inclusion in the competition Entrants must sign/e-sign a PDF copy of these terms which will be provided to you by your sales consultant, in the space provided below and return to your sales consultant before 12noon Friday 11th December 2020.
We could save you thousands of pounds if you’re buying in Scotland.
Our step-by-step Part Exchange service means you can have an offer for your home in just 5 days. All you have to do is get in touch, provide us with details of your property and leave the rest to us. You can then concentrate on choosing your perfect Stewart Milne home.
We'll arrange two independent valuations, provide you with a fair market price for your property and once you've accepted, we'll liaise with solicitors to complete the purchase alongside the purchase of your new Stewart Milne home. No fuss, no delay, no chain. With no time to lose, get in touch now or come to our special events and find out how easy moving home can really be.
An offer for your home within 5 days
Two independent valuations
Reserving your home is the next step. Guaranteeing you’ll have the home you’ve set your heart on. You’ll now be assigned a consultant, who will remain a consistent point of contact throughout the process. They will keep you well informed as well as continually offering help and advice. And when you buy early you’ll be able to choose your kitchen, tiles and work surfaces (to name just a few) from our extensive range.
Help with your move
You’ve sold your old house and your move-in date is within sight. Even at this point we’re still there to offer help with any aspect that makes the move to your new home as smooth as possible - how about we arrange a removals service? We will also give you our invaluable and easy to use guide to your new home, in which you’ll find all the information you’ll ever need, as well as important contact details.
Part Exchange is available on selected developments and selected homes only. Subject to status and availability, terms and conditions apply. Please ask us for full details.
We offer Key Workers special benefits to make moving easy and affordable throughout Scotland, England and Wales.
At Stewart Milne Homes we fully appreciate the importance of our public sector Key Workers and the tireless work they do to ensure our communities operate with good health and well-being, great education and consistent public protection.
We offer Key Workers special benefits to make moving easy and affordable, and with a wide choice of stunning homes, you'll be spoiled for choice:
£2,000 towards legal costs
A Key Worker is defined as follows:
Police Force (including Prison Officers)
Teachers and Nursery Nurses
Key Workers is available on selected developments and selected plots only, and may not be combined with other available offers. Subject to status and availability, terms and conditions apply. Please ask us for full details.
Choice of Flooring
Choose your flooring from our selected range, and add your own personality to every room with our compliments.
Images shown are for illustrative purposes only and are not to be presumed to be entirely accurate, individual properties may differ. Please contact a Sales Consultant for further details of this beautiful home.
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This calculator is designed to give you an indication of your LBTT / Stamp Duty liability when buying a Stewart Milne home. Calculations are rounded down to the nearest pound. LBTT / Stamp Duty is a self-assessed tax and therefore Stewart Milne Homes does not accept liability for the use by taxpayers or agents of this calculator. Please consult your mortgage adviser for your calculation.
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