What is MI New Home?
MI New Home is an innovative new scheme, developed by the home building industry working closely with the Council of Mortgage Lenders and supported by the Scottish Government, that could help you get a 95% mortgage! Look out for MI New Home properties with the red sticker.
How does MI New Home work?
It is available to anyone looking to purchase a new home in Scotland up to £250,000, whether they are a First Time Buyer or already own a house and are looking to move. So, with as little as a 5% deposit, you could take the next step on the property ladder or even move into your first home.
Do I qualify for MI New Home?
If you're a UK citizen and looking to move house or buy your first home, look for MI New Home properties on Rightmove now and take that next step.
Which properties are eligible for MI New Home?
MI New Home properties must be:
- New build
- Priced up to £250,000
- Full ownership
- Primary homes
- In Scotland (The NewBuy scheme applies in England)