Discover Great Start
Why Great start?
With a helping hand from us.
Who is the scheme available to?
Great Start is available to anyone purchasing one of our homes to live in. It is only available in selected locations and on selected properties, so speak to one of our sales advisors to find out which homes are eligible.
Great Start in 4 easy steps
Step 1:
Step 2:
Step 3:
Step 4:
How does Great Start work?
Once you’ve found the Morris home you’re looking for, you can secure it by paying a reservation fee and a deposit of 5% of the overall purchase price. You’ll then need to take out a mortgage for 75% of the price.
Now that you’ve paid 80% of the price for your new property, we’ll complete the process by providing you with an equity loan for the remaining 20%, which is completely interest-free for the first five years.
After the first five years, you’ll be charged a fee of 1.75% of the loan value, which will increase year on year by the retail price index plus 1%. The remaining 20% is paid back at the market value after 25 years or when you sell your home – whichever is sooner.
Settling up early?
Is there any flexibility in the repayment time?
Anything else?
With a helping hand from us.