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Affording a new home with Morris Shared Equity

Affording a new home with Morris Shared Equity

Here you'll find some useful information to help you understand how our own Shared Equity scheme works, so you can start the journey towards your dream home.

How does Shared Equity work?



The process in a nutshell:

    You’ll need a 5% deposit of the value of the home you wish to buy.

    We will lend you up to 20% the value of your chosen home in the form of an equity loan. This loan is interest-free for five years and can be repaid over time, or if you decide to sell your home in the future.

    You then take out a mortgage on the remaining 75% of the value of the property, helping to reduce your monthly mortgage payments.

    At the start of the sixth year you’ll be charged a fee of 1.75% of the loan value, and this will then increase every year by the retail price index plus 1%.

    What’s the criteria?

    Must be the only home you own

    You must not sub-let or rent out the home after purchase

    Shared Equity is only available on specific plots

Buying your dream home

All you need to do is contact our team to find out which homes are available with Shared Equity.

Speaking to an Independent Financial Advisor before you buy your new home can be really useful. If you haven’t spoken to one already our Sales Advisors can put you in touch.

Now is a great time to Buy

Low Interest Rates

Low Interest Rates

With interest rates currently on hold at 0.25%, monthly mortgage payments for new buyers are much more affordable than they have been for some time. There’s never been a better time to buy a new home and take advantage of the low interest rates while they last.

Stamp Duty has been cut

Stamp Duty has been cut

With stamp duty rates lower than previous years it has never been a better time to act and purchase a new build home.

Competitive Mortgage Deals

Competitive Mortgage Deals

There’s no shortage of competitive mortgages available. With lenders competing to offer low interest products and better deals, it’s a buyers’ market and an ideal time to consider buying a new build home.