Fee Free Homebuy
Can’t afford your first home? Morris has the answer!
Help is at hand for people struggling to meet the costs of buying a home with a new scheme designed specifically for your needs.
Morris is offering a special ’fee free package’ to meet the costs of purchase combined with expert support on accessing the government’s new Open Market HomeBuy scheme. The combined package is open to all first time buyers earning a household income of between £20,000 to £60,000 p.a., and is designed to help you take your first steps on the property ladder.
How does it work?
Fee Free Package Morris’ ‘fee free package*’ meets the cost of solicitors’ and Land Registry fees, the cost of searches and any stamp duty that is payable.
Open Market HomeBuy Scheme
Under the government’s Open Market HomeBuy scheme, all first time buyers and key workers can apply for two different schemes in order to borrow between 15% and 50% of the value of the property at a very low, or zero rate of interest. This means that you can afford a brand new home worth considerably more than with a mortgage only. You will own your new home completely – this is not a shared ownership scheme.
The scheme had previously only been available to key workers such as nurses, teachers and other ‘priority buyers’, but has been extended to help more people to buy their first home. By taking advantage of Open Market HomeBuy there is no need to pay any deposit and you may be able to significantly increase the range of homes you could afford to buy.
According to government figures a household with an income of £32,000 should be able to afford a house worth £200,000, paying £760 a month. Outside the scheme, the cost would be £1,350 per month.
It’s easy to apply for the scheme, simply look at the points below or speak to one of our fully trained Sales Advisors:
1. Check that your household income (joint income if you’re buying with a partner) is between £20,000 to £60,000 p.a. and also whether you are a first time buyer or a key worker as defined by the scheme.
2. Select your ideal Morris home – HomeBuy is available on Morris properties that are already built or are nearing completion.
3. Speak to one of our Sales Advisors and Independent Financial Advisors for more details about arranging a mortgage and how Open Market HomeBuy works.
4. Your Sales Advisor will help you start the application process by contacting a local HomeBuy Agent or helping you to fill in the relevant forms.
5. Ask your Sales Advisor about our ‘Fee Free Package’ or the other ways in which we may be able to assist with your move. We are here to help and always try to tailor schemes to suit individual circumstances.
See terms and conditions section for further financial information
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