Downstairs features a welcoming lounge with bay window and, to the rear of the home, a striking dining kitchen with optional breakfast bar, ideal for casual dining. French doors open directly to your private garden with patio area and allow light to flood into this ideal family space. A handy utility room can store your washer and dryer away from the main kitchen area. For added convenience it leads to both the garden and the garage. The ground floor of this home also has a wc.
Upstairs the well-proportioned master bedroom comes complete with fitted wardrobes and a luxurious ensuite shower room. Bedrooms two and four also benefit from fitted wardrobes and use of a family bathroom with separate bath and double width shower enclosure. Both the en-suite and family bathroom include your choice of stunning vanity furniture.
Make your move a reality with a 5% contribution to your mortgage deposit!
At Stewart Milne Homes we pride ourselves on creating unique, tailored solutions to support you in purchasing your dream new home.
For a limited time only we have added this fantastic new incentive to help you make your dream new home a reality.
Please contact our friendly Sales Consultants for more information.
*The "5% Mortgage Deposit Contribution" payment will be made in full, in one single sum, by way of deduction from the final settlement figure on the date of entry. Not available in conjunction with any other offer. Offer available on selected developments and selected plots only. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY DEBT SECURED ON IT.
First Home Fund
The Scottish Government has launched its new national pilot scheme, helping first-time buyers with the deposit for a new home.
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.
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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Stamp Duty Calculator
Shows the cost of stamp duty/LBTT/LTT for a home.
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.
Shows the cost per month and the total cost over the life of the mortgage, including fees & interest.
Actual loan amounts and affordability criteria will differ across lenders. Your home may be repossessed if you do not keep up repayments on a mortgage.
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