Nationwide unveils NewBuy multi user cell

Nationwide Building Society has said that its NewBuy multi user cell is open for business.
This, the mutual says, means more builders will now be able to offer their properties for sale under the new scheme.

Multi user cells enable several builders to bundle their cases together to enable them to achieve the appropriate numbers required.

NewBuy, launched on 12 March 2012, was initially concentrated on a limited number of lenders and builders. Since the launch, the scheme has continued to expand and Nationwide has entered into additional arrangements with builders Linden and Crest Nicholson.

By launching its multi user cell today, Nationwide is opening up the scheme to a wider range of lower volume builders, with Fairview New Homes being the first.