Halifax has reached a milestone within its support of NewBuy initiative, signing up its 50th house builder partner representing 69 individual builder brands.
Halifax has helped approximately 1475 buyers’ purchase through NewBuy. This represents one in three of all applications and completions on the scheme.
Since the launch of the NewBuy scheme in March 2012, Halifax has partnered with not only large UK-wide builders but also works with smaller local and regional builders through a multi-user cell network. This, the lender claims, ensures that lower volume builders can also participate in the scheme.
Stephen Noakes, mortgage director, Halifax, said: “Our commitment to NewBuy has been clear since the scheme launched. We are continuing to increase the number of builders we are working with. It is a testament to our commitment to put the purchase of a new-build home back within the grasp of both first time buyers and homemovers.”
Halifax recently reduced rates on its two-year 90-95% LTV NewBuy mortgages, with rates now available from 4.99% with a £999 fee and 5.39 with no fee. Halifax also has a seven-year mortgage for loans between 90-95% LTV at 4.99%.