ways to buy

Here at Myriad Homes, we appreciate purchasing a new home can be a daunting experience, no matter how many times you’ve been through the process. However, for a first-time buyer, it can be particularly overwhelming. We understand how stressful it can be, and are to help guide you through the sales journey, elevating your stress and worries so you can move into your ideal home.

Before you begin your search, you should ensure you can afford a property. There are many different fees involved in a house purchase, from mortgages and deposits, to survey fees, removal costs and legal charges. It’s recommended you sit down and work out exactly how much you’ll need, so you can work out what you can afford.

You’ll need to save for a deposit before you can attain a mortgage; this should be at least 10% to 20% of the cost of the home you would like to buy. You’ll find a wider range of cheaper mortgages available the higher your deposit.

You’ll find a range of providers offering mortgages, from banks to specialist mortgage brokers. You should speak to a range of people to see what they can offer you. They will be able to work out the maximum mortgage you can afford, by looking at your income and expenditure. Borrowers with high credit scores tend to get lower interest rates on mortgages than those with low credit scores. You can check your credit score on a number of websites online.

Once you’ve received a mortgage in principle from a mortgage lender, you can begin your search and put an offer in on your dream property. After this, you’ll need to instruct a conveyancer. Conveyancing is the legal transfer of a property from one person to another. It is recommended to choose a conveyancing solicitor or a licensed conveyancer, particularly if you are getting a mortgage.

We work with a range of licensed conveyancers and mortgage lenders, and are happy to recommend you to trusted companies.

There is a range of help and advice online for all homebuyers, and you can find a range of Help to Buy schemes aimed at helping people purchase properties. Find out more here

Our sales negotiators are always on hand to guide you through the process, and will keep you regularly updated on the latest process of your purchase.


Shared Ownership

Shared ownership helps you to buy a home if you cannot afford all of the deposit and mortgage
payments for a home that meets your needs. You buy a share between 10% and 75% of the home’s full market value, and pay rent on the remaining share.

Most shared ownership homes require an initial share purchase between 25% and 75%. When homes are available for sale under the new model for shared ownership, shares will be available from 10%. A limited number of these homes will be available in 2021. More will become available from 2022 onwards.

Learn more about shared ownership

CHP Shared ownership schemes in Essex can be found by visiting the Help to Buy website at www.helptobuy.org.uk

Please remember, your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.

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Important information

The mortgage calculator provided on this website is intended to be used as a general guide only. Actual mortgage, premiums, payment information, and others payable are subject to the full set of underwriting policy and standards applied by your lender/s and/or other factors and might differ from what is presented. Any information provided by this calculator is not binding. Myriad Homes provides no liability for any discrepancy between the figures generated by this calculator and actual mortgages available and/or premiums payable.

Assumptions

The results calculated by our mortgage calculator are computer-generated and are based on the following assumptions:

  1. Interest is charged on a monthly basis.
  2. Your interest rate stays the same over the term of your mortgage.
  3. If you selected 'Interest only', we assume the standard monthly payment doesn't decrease even if you pay off some of your remaining balance.
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