Halifax is now allowing purchasers who are part exchanging their current home to purchase their next property through the NewBuy scheme.
Since the launch of its NewBuy range in April 2012, Halifax has helped 1,176 first time buyers and home movers.
The lender has a number of NewBuy deals designed for borrowers with a 5% – 10% deposit purchasing a new-build property from 42 selected housebuilders through the Halifax branch network and selected intermediaries
Product details:
- 2 year fixed mortgage at 5.69%, £999 fee
- 2 year fixed mortgage at 6.09%, with no product fee
- 7 year fixed mortgage at 5.69%, with no product fee
Stephen Noakes, mortgage director, Halifax, said: “Our commitment to NewBuy has been clear since the scheme launched, we are pleased that we are able to extend the scheme to home movers looking to part exchange their property as they move up the ladder, whilst also helping first time buyers too.”
Whilst the majority (77%) of applications have come from first time buyers, the remainder have been received from home movers. The South East accounts for just under a third of the applications but properties have been purchased in each region across England.
Halifax NewBuy applications by region:
| North | 15% |
| Yorkshire & Humberside | 6% |
| North West | 7% |
| East Midlands | 5% |
| West Midlands | 8% |
| East Anglia | 4% |
| South West | 12% |
| South East | 29% |
| Greater London | 14% |