This week also saw the 50th builder become registered to sell homes through the scheme, meaning there is now a wide cross section of small and large builders across the country signed up.
NewBuy, the industry funded Government backed mortgage indemnity scheme, allows buyers to secure their new build home with a 5% deposit. Since its launch in March, the number of builders and lenders registering for NewBuy has steadily increased, with the sixth lender, Aldemore launching its NewBuy product in September.
Stewart Baseley, Executive Chairman of HBF, who were part of the team that developed the NewBuy scheme, said today:
““Reaching 2000 NewBuy reservations clearly demonstrates the customer need for such a scheme.
“Over the coming years NewBuy will make a real difference and help tens of thousands of people realise their ambitions of home ownership.
“In turn this will then help kick-start new home construction, creating economic growth and thousands of jobs across the country.”
