A new opportunity for first-time buyers.
The Government's proposed Your First Home scheme could make taking that first step onto the property ladder a little easier.
With full details expected following the Autumn Budget, the proposals announced so far include:
- A deposit as low as 2.5%*
- A Government-backed equity loan of 20%*
- The opportunity to purchase eligible new-build homes in England*
Subject to confirmation of the scheme's final terms, eligibility requirements and participating properties.
What could this look like for you?
To put the proposed scheme into perspective, here's an example of how purchasing a £355,000 Morrish home could work:
| Your deposit (2.5%) | £8,875 |
| Government equity loan (20%) | £71,000 |
| Mortgage required (77.5%) | £275,125 |
Under a traditional 10% deposit arrangement, you'd need to save £35,500 for the same property. With the proposed scheme, that initial deposit could fall to just £8,875, a difference of £26,625.
That's a significant change for people who have been saving towards their first home.
Could your first home be closer than you think?
A smaller deposit could bring your first home within reach sooner. And with Morrish Homes, you're choosing an independent, family-run housebuilder that's been creating homes since 1954. We take pride in every home we build, with traditional craftsmanship, thoughtful design and attention to detail at the heart of everything we do. We only create homes that we'd be proud to live in ourselves.
There are still some important details to come, including eligibility, property price limits and which homes will qualify.
Whilst we can’t be certain, we do expect homes at Mountbatten Park in North Baddesley (Hampshire), Poundbury in Dorchester (Dorset), and Nansledan in Newquay (Cornwall) to be eligible for the scheme.
Register your interest with us today, and we'll be in touch when the Government confirms the full details, including information on any Morrish homes that may be available through the scheme.
Illustrative example only, based on the proposed 2.5% deposit and 20% equity loan. Not a confirmed mortgage offer or guarantee of scheme eligibility. The Government has yet to confirm all terms and conditions. Mortgage affordability, lender requirements and other purchase costs will also apply. Independent mortgage advice is recommended.
Testimonials
My wife and I are simply delighted with our new apartment. The build quality, the finish, and the attention to detail are just amazing! We have lived in Poundbury for 11 years, and this is our third purchase. Morrish is without question a 'cut above' the others. If we ever have to buy again we know where to come!
Testimonials
We are delighted with our new Morrish home and we look forward to seeing how the Nansledan development evolves over the years to come. We love the fact we are not far from Newquay town and beaches. The Sales Team ensured that the process was as stress free as possible and was always available to help with any queries.
Testimonials
Having decided to downsize we looked extensively before choosing a Morrish new home at Poundbury.
We are so pleased with our decision. From viewing, through the buying process to completion we had a great experience with Morrish. Everyone was helpful and obliging making our move as simple and stress-free as possible. We have no reservation about recommending Morrish to others looking for a new home.