Welcome to NewBuy
The NewBuy Guarantee scheme aims to help buyers who have a deposit of at least 5% to buy a new-build home. This is a smaller deposit than is normally required. The scheme allows more borrowers to secure up to a 95% loan-to-value mortgage on new-build properties (houses and flats) from participating builders in England.
Help to Buy scheme
In the Budget, the Government unveiled further measures (Help to Buy) to assist people looking to buy a new home. ‘Help to buy’ comes in two parts. This first part, available from April 1 2013, is an extension of the FirstBuy equity loan scheme. It is open to anyone wishing to buy a new home – not just first time buyers and means you can buy with a 5% deposit. More information can be found at www.homebuy.co.uk
The second part is a scheme for the whole housing market to assist people buy with a 5% deposit. This won’t come in to force until January 2014.
People wishing to find out which scheme to assist them buy a new home is best for them are advised to contact their local house builder who can explain what is available in more detail.
A list of house builders can be found on the Housebuilder offering newbuy page