New Buy Mortgage Guarantee Scheme01/02/2012
Indemnity scheme will guarantee 95% Mortgage loans up to £500,000, with funding will be provided by developers and taxpayers.
The New Buy Guarantee scheme will allow lenders to offer larger mortgages on new-build homes.
The government scheme is to try and kick-starting the housing market by offering to underwriting 95% will be available to people spending up to £500,000 on a mortgage for new-build the housing minister has announced.
The New Buy Guarantee scheme, will be launched this coming March, Unveiling more details, the housing minister Grant Shapps said he wanted to (go the extra mile) for those aspiring to get on the housing ladder