Stewart Milne Homes rolls out deposit-free lending on many of its developments

Stewart Milne Homes will delight cash-strapped house-hunters across Scotland and the northwest of England with its announcement that it is offering 100% mortgages across over 30 developments in these areas. The deal is on offer on a variety of house types priced up to £350,000.

John Slater, the company's group managing director - homes, says: "We are committed to keeping homebuyers on the move and investing in straightforward, effective solutions to common challenges such as saving for a deposit. We understand that funding a deposit is not just an issue for first-time buyers; many second- and third-time buyers are facing a deficit between their equity and current deposit requirements. Therefore, we are offering the 100% funding across all our houses - from two-bedroom starter homes to five-bedroom family villas."

The sheer variety of property types on at Stewart Milne Homes' developments of new homes in Scotland and England means that a wide range of homebuyers will be able to take advantage of this offer. The only restrictions to applying for this finance are that purchasers must be in full-time employment and be earning at least £20,000 a year.

Among the properties that could be purchased with no deposit under this deal are:

• A one-bedroom ‘Rowan' terrace mews house in Errol, Perthshire from £93,495 at Churchfields;
• A two-bedroom ‘Kilmory' apartment in Newton Mearns from £183,000 at Patterton Court;
• A three-bedroom ‘Bathford' semi-detached house in Buckshaw Village, Chorley from £199,950 at Farrington Park;
• A four-bedroom ‘Falkland II' detached house in Stirling from £299,000 at Strathallan Park;
• A five-bedroom ‘Heddon' detached house in Stewarton, Ayr from £261,000 at Laird's Gate.