Explaining The Newbuy Scheme

I'm here with some fantastic news. 95% mortgages are now available on all Taylor Wimpey homes in England worth up to £500,000. So you can now buy a new home with just 5% deposit. And unlike other schemes there is no salary cap. Not bad! Until now, the biggest barrier when buying a property has been raising the dreaded deposit, which in most cases has averaged about 20% of the value of the property. So if you were already a homeowner wanting to move but you had limited equity, you may have struggled to raise that 20%. And if you were a first time buyer, you would have found it nearly impossible to save such a large deposit. Until now. With the arrival of the government-backed scheme NewBuy, 95% mortgages are now available to both first time buyers and homeowners alike. So what does this mean? Well, until now, if you wanted to buy a house worth £180,000, you’d have needed a staggering £36,000 to meet that 20% deposit. With NewBuy, for that same house, you’ll only need a £9,000, that’s a 5% deposit. Put simply, if you can afford the mortgage repayments but you don’t have a large deposit to put down on a home, then this is the scheme for you. Interested? Here’s how NewBuy works. All you need to do, is book an online appointment to visit one of our developments and choose your dream home. Then, we’ll put you in touch with one of our Independent Financial Advisors, who will help you with mortgage availability. So where is the NewBuy scheme available? Well, the great news is the scheme is offered on all Taylor Wimpey properties across England up to £500,000 as long as you’re buying the property as your main home. And as one of the largest homebuilders in England, chances are, Taylor Wimpey are building new homes near you. And that's it: It's affordable, it's simple, and it could help you move home sooner than you thought.