Help to Own at Mill Meadows, Kempsey

Help to Own at Mill Meadows, Kempsey

The Help to Own Low Cost Home Ownership Scheme at Mill Meadows has been designed to help eligible buyers purchase a brand-new home at a discounted price.

The homes available through this scheme are expected to offer a discount of approximately 30% to 40% against open market value, helping to make home ownership more achievable for local people who meet the eligibility criteria.

A range of house styles and layouts will be available, with full details to be confirmed when the homes are released.

Who is Help to Own for?

Help to Own is intended for buyers who are unable to purchase a suitable home on the open market without assistance.

To be considered for the scheme, applicants will usually need to:

• Be aged 18 or over
• Be unable to afford suitable private rented or owner-occupied accommodation on the open market in the local area
• Meet the income and affordability criteria for the scheme
• Purchase the property as their main home
• Meet any local connection requirements linked to the development

Income criteria

Individual applicants must not earn more than £40,000 per year before tax.

Where two people are buying together, both applicants must apply jointly, even if both are not named on the mortgage. The combined household income must not exceed £80,000 per year before tax.

Income is usually assessed based on the tax year immediately before the year of purchase.

Local connection

Applicants may need to demonstrate a local connection to the area.

This may include:

• Living in the local area currently, or having lived there previously for a qualifying period
• Working in the local area
• Having close family members who live permanently in the local area
• Having another special reason or connection that may be considered under the scheme criteria

Where two people are buying together, only one applicant may need to meet the local connection requirement.

The exact local connection criteria can vary depending on the planning agreement for each development. Full details will be confirmed as part of the application process.

What happens next?

The Help to Own homes at Mill Meadows will be released soon.

Before applying, we recommend reviewing the basic criteria above to check whether the scheme may be suitable for you.

The first step will be to register your interest with Nicol & Co, who will carry out an initial eligibility review.

If you appear to meet the basic requirements, you may then be referred to The Mortgage Branch to discuss affordability, mortgage options and the next steps.

Register your interest

To register your interest in the Help to Own homes at Mill Meadows, please contact Nicol & Co.

Nicol & Co
Tel: 01905 930 404
newhomes@nicolandco.co.uk

For mortgage and affordability advice, eligible applicants may be referred to:

The Mortgage Branch
Call: 01452 223925
Email: hello@themortgagebranch.com

Important information

Eligibility is subject to assessment and approval. Meeting the basic criteria does not guarantee that you will be accepted for the scheme or offered a home.

Discounts, prices, layouts, eligibility requirements, local connection criteria and application timescales will be confirmed when the Help to Own homes are released.

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