NewBuy Scheme


Note
The NewBuy scheme has now ended. For other schemes, please go to www.helptobuy.gov.uk

If you're a UK citizen, you may qualify for a 95% mortgage under the government-backed NewBuy scheme.

What is NewBuy?

NewBuy Scheme
www.newbuy.org.uk

The NewBuy scheme is designed to help overcome the deposit gap for new home buyers.

NewBuy is a new government-backed scheme that aims to help home-buyers get a 95% mortgage on new build properties from participating builders in England.

How does NewBuy work?

Buying a House

The home builders will partner up with mortgage lenders (the banks and building societies) working in partnership with the Government, and the mortgage lenders will offer 90-95% loans on new build properties. This scheme is designed to protect the lenders if repossession were necessary. This is why they are prepared to make 90-95% mortgages available.

Which properties are eligible for NewBuy?

Buying a new build house

To qualify for NewBuy, properties must be:

  • New build
  • Priced up to £500,000
  • Full ownership
  • Primary homes
  • This scheme applies to England only

To discuss any of the above or if you have any specific queries, please do not hesitate to contact us on 0844 412 5857.
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