Linden Homes has launched a partnership with Aldermore to strengthen its existing range of NewBuy mortgages to buyers across the country.
Aldermore’s NewBuy mortgage products include a choice of two or three year fixed rates at 5.48 per cent for loans up to 95 per cent loan-to-value.
Linden Homes will make the products available across all of its developments, for both flats and houses, valued from £75,000 - £500,000.
Aldermore was the first challenger bank to participate in the government’s NewBuy scheme, which is designed to help homebuyers with a limited deposit purchase a new home. The bank looks at each mortgage application individually, considering all facts presented by the applicant and taking into account individual circumstances – rather than solely relying on a credit score system.
Tom Nicholson, Linden Homes Special Projects Director, welcomed the company’s latest partnership as a sure step in providing responsible lending to its customers.
“We’re delighted to be working with Aldermore to offer buyers with a five per cent deposit an even greater choice when selecting an affordable mortgage product. NewBuy is in place to help not only first time buyers, but also home owners looking to make the next jump on the ladder.
“We’ve already had a good number of buyers secure their new home using NewBuy, and we’re confident this latest partnership will continue to provide significant help for our customers.”
The Home Builders Federation recently announced that since its launch in March, more than 2,000 people have now reserved a new home using the NewBuy initiative.
Charles Haresnape, Managing Director of Aldermore Residential Mortgages, said:
“Aldermore is delighted to be working with Linden Homes on the NewBuy initiative. It is great that developers are adopting this scheme which, over time, will help a significant number of new purchasers enter the market. This can only be good for the economy.”
Linden Homes has launched a range of mortgage products over the last 12 months for people with between five and 15 per cent deposits. They include its Step Up scheme, which boasts rates as low as 3.69 per cent.
For further information, contact Lyndsay Scanlan or Claire McCowan at Remarkable Public Relations on 01962 893 893.
22 November 2012
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