Start your home-buying journey with confidence using our free mortgage calculator for new build homes. This tool is designed to help you work out what your monthly mortgage payments might be. Having an idea of what you can realistically afford means you can search for your desired new home with the peace of mind that you could buy it.
Speak to one of our Independent Financial Advisers for more information on all the latest mortgage products available.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Miller Homes do not provide mortgages and this information is only a guide. More information would be required in a mortgage application and advice should be sought from an Independent Financial Advisor.
Our handy tools can help you to understand how much you need to budget for your new home.
Use the Miller Homes calculator to work out how much Stamp Duty/LBTT you'll pay.
It is important that you get independent financial advice when buying a new home. You can choose your own adviser or we can put you in touch with advisers who can help you. Or, you could use Mortgage Advice Bureau’s affordability calculator to find out how much you might be able to borrow.
Typically, lenders will allow you to borrow up to four or five times your salary (or joint salary, if you are buying with a partner). However, each lender has their own rules and the amount they are willing to lend you will depend on certain affordability checks. They will assess factors such as:
You should make sure you take advice from an independent financial adviser on your own circumstances.
The total amount that you can borrow might vary from the amount that you can afford based on a number of factors. Our mortgage calculator takes into account the value of the property and your deposit size, but you will also need to consider other factors not included in the calculation such as:
Lenders will check your credit history to determine whether you have been reliable in the past with paying back debts or loans. This helps to show that you can borrow responsibly and continue with payments should your life situation change, or if interest rates went up.
Unfortunately, having little or no credit history can make it difficult for companies to assess you. The more points you have on your credit score, the higher the chance you have to be accepted for a mortgage.
You may still be able to obtain a mortgage despite having a bad credit score depending on your circumstances, however, you are likely to be offered a mortgage with higher rates and payments. If you have enough income and a good down-payment, it may be possible to find a competitive deal. We recommend trying to improve your credit score first before applying for a mortgage. Here are a few tips on how to improve your credit score:
In any case, you should take independent financial advice on the best solution for you and your family.
Register or login to My Miller Home. Be among the first to know about new homes released for sale, exclusive offers and more
An error occurred. This problem has been automatically reported.