Homebuy direct
Want to get on the property ladder? Morris has the answer
If you're a first time buyer or key worker struggling to meet the costs of buying a new home, then help is at hand.
You may be eligible for a new Government-led scheme, which means you can purchase a new home with a mortgage for just 70% of its value and without a large deposit. Morris and the Government will provide the remaining 30% in a home equity loan, which you don't pay back in full for 25 years.
Who is it for?
The offer is open to all first time buyers and key workers earning a household income of less than £60,000. It is also open to people who may have previously owned a property with a partner but are now unable to afford their own home following separation or divorce.
How is it different to other Government-led schemes?
The HomeBuy Direct scheme is only available on designated developments, on properties that have been pre-selected by the Government. This means that, unlike other schemes, there is limited availability. Buyers should register now to avoid missing out.
What type of homes are available?
Properties available under the scheme range from apartments and townhouses to detached family homes. As the offer is allocated to specific plots, this will vary for different developments so buyers are advised to speak to one of our fully trained Sales Advisors on site.
How does it work?
The HomeBuy Direct scheme means, if you're eligible, you can purchase a new home by taking out a mortgage for 70% of the total purchase price. The rest of the cost will be paid for with equity loans from Morris and the Government.
The scheme significantly reduces your monthly mortgage payments and therefore makes owning a new home more affordable. You will own your new home completely - this is not a shared ownership scheme.
When do I pay the remaining 30%?
The 30% loan is for a 25-year period, for the first five years of home ownership, there is nothing to pay on the amount Morris and the Government contributed to your purchase. After five years, you'll start to pay a low rate of interest on the outstanding amount.
Register now to avoid missing out
HomeBuy Direct is available on a limited number of properties so Morris is urging you to register your interest now to find out if you are eligible for the scheme.
By choosing to buy a HomeBuy Direct property with Morris, you can expect the highest quality in design, construction and customer service at a premium development. Homes that you may have thought were out of your reach are now attainable.
How do I register?
It's easy to register for the scheme, simply speak to one of our fully trained Sales Advisors at any of our developments or call the Morris sales team on 0845 601 5667.
We'll help you start the application process and help you fill in the relevant forms. You may be eligible for HomeBuy Direct if your household income (joint income if you're buying with a partner) is no more than £60,000 p.a. and one of the points below applies to you:
- You are a first-time buyer
- You want to move from social rented accommodation and buy your own home
- You are a key worker, eg working for the NHS
- You are currently in private rented accommodation
- You are running out of room at home, eg need more bedrooms for your expanding family
- You have previously owned a property and are now unable to do so.
What if I'm not eligible?
Don't worry if none of the above applies to you. We have other fantastic schemes and offers available. Speak to one of our Sales Advisors to find out how we can tailor our schemes to suit your individual circumstances and about other ways in which we may be able to assist with your move.
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