A family member contributes up to 20% of the home's purchase price as a deposit
The homebuyer selects and moves into a brand new Miller home.
Upon legal completion and moving in, Miller Homes pays a guaranteed lump sum equivalent to 5% interest for 5 years* to the deposit-contributing family member.
In our scheme, more than one family member is allowed to contribute to the deposit. The interest can be paid by cheque to one person or into a nominated bank account as advised by your solicitor*.
To facilitate the process, and should you choose, Miller Homes can provide contact details for Independent Financial Advisers to assist you in choosing from their range of approved lenders.
The deposit can be gifted by your family member, meaning it doesn't need to be returned if the house is sold**. Alternatively, you can arrange through your solicitor to return the deposit to the family member at a time that suits both parties**.
Let's visualise this with an example. Say you're purchasing a 2-bedroom apartment priced at £150,000. With a 20% deposit of £30,000, your family member could benefit from a return of up to £7,500*. Everyone truly does win with the Family Deposit Scheme*!
For more details and to see if you're eligible, please get in touch with the team at Miller Homes today.
Our easy-to-use, free online mortgage calculator is perfect for anyone who is interested to find out how much their monthly mortgage repayments might be.
Use our handy calculator to work out how much Stamp Duty you'll pay on your new home.
Miller Homes reserves the right to withdraw the Family Deposit scheme at any time. Scheme provided by Miller Homes Limited of Miller House, 2 Lochside View, Edinburgh Park, Edinburgh EH12 9DH.