Halifax has already announced its intention to work with a number of builders through the Newbuy scheme, including the UK's leading and largest builders. In addition to this, Halifax has today announced the launch of its multi-user cell, ensuring that lower volume builders can also participate in the scheme.
The products are available from today through the Halifax branch network and selected intermediaries. The deals are designed for borrowers with a 5% - 10% deposit purchasing a new-build property from the selected housebuilders.
Product details:
- 2 year fixed mortgage at 5.99%, £999 fee
- 2 year fixed mortgage at 6.39%, with no product fee
There is no mortgage account fee (£265) payable on either product.
Stephen Noakes, mortgage director, Halifax said:
"As the leading lender in the new-build market, we're proud to supporting the NewBuy scheme. NewBuy will put the purchase of a new-build home back within the grasp of both first time buyers and homemovers, and will give a much needed boost to housing supply."
Housing Minister Grant Shapps said:
"I'm delighted that Halifax, one of the biggest mortgage lenders on new-build properties, will now offer the NewBuy Guarantee to its customers.
"The NewBuy Guarantee is offering help for thousands of people who in many cases had previously given up on the dream of home ownership. Thanks to the agreements we are striking with lenders and builders across the industry, those aspiring to get on the property ladder are now able to do so with a fraction of the deposit they would otherwise require.
"And with more lenders and builders looking to join the scheme, customers will have a wide range of options to choose from when buying their newly-built home."
