New Halifax New build Mortgage

Halifax have today launched a new build Mortgage, a 95% Loan To Value deal

Halifax are now the fourth lender that have introduces a mortgage for the New Buy Scheme. The other lenders are Barclays, Nationwide and the RBS. Santander have proposed that they will be lauching a product later on in the year.

The products are today made available to brokers and are designed to facilitate borrowers who have a 10%-5% deposit who are purchasing a new build property from certain builder schemes.

These schemes are offering help to the thousands of individuals who have relatively small deposits and started to lose hope in the housing market. The schemes will help put these people on the first rung of the property ladder and is a very promising scheme.

The increase in the number of lenders offering these schemes is encouraging to facilitate competition and also choice for the consumer. Remember it is not just about the rate but also the associated fees and conditions. Our mortgage advice services are here to help.