Halifax is launching two new mortgages today (16th April 2012) to support its participation in the government-backed NewBuy scheme. The mortgages will be available to eligible homebuyers who purchase a new-build home worth up to £500,000 from a growing range of housebuilders in England, who can provide a deposit of between 5% and 10%.
Stephen Noakes, mortgage director of Halifax, says: "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 home movers, and will give a much needed boost to housing supply."
The two mortgages now offered by Halifax are a two-year fixed rate of 5.99% with a fee of £999, or a two-year, fee-free fixed rate of 6.39%.
Housing Minister Grant Shapps supports the Halifax move: "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 homeownership. 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."