NewBuy video explains 95% mortgage offer

Taylor Wimpey East Midlands has launched an informative new video guide explaining the recently launched 95 per cent mortgage scheme, NewBuy.

The Government- and housebuilder-backed initiative, which launched last month, has been hailed as a great boost for the housing industry and is being offered by a number of the major mortgage lenders.

NewBuy is available on brand new properties up to the value of £500,000 and means that credit-worthy first time buyers may now only need to save a five per cent deposit before they can get on the property ladder.

Home movers with limited equity in their existing house will also benefit from the increase in availability of 95 per cent loan to value mortgages.

Taylor Wimpey has developed the new easy-to-understand video to explain how NewBuy works.

It gives house-hunters an overview of the scheme, highlighting who is eligible, how NewBuy can assist them and provides a handy worked example.

It also gives viewers details on how they can find out more information and subsequently apply for the scheme in their area.

Carolyne Watkinson, regional sales manager for Taylor Wimpey East Midlands: “We have received a great deal of interest in NewBuy from a variety of house-hunters, including first-time buyers struggling to save for a large deposit and those with limited equity in their existing property.

“However, as with any new scheme, people are still a bit unsure about how it works.

“It’s important that potential purchasers are fully informed about all the different schemes available to them which is why we decided to develop a simple video guide to help house-hunters further understand NewBuy and how it can benefit them.”

To view the video guide visit, or contact any of the following Taylor Wimpey developments across the region to find out more about NewBuy availability: