Linden Homes Sees Record Take Up Of Government's Newbuy Scheme

Linden Homes says the strength of NewBuy has unlocked buying potential for homebuyers nationwide

Linden Homes is celebrating the growing national success of the government-backed NewBuy  scheme, after revealing new figures that showed a quarter of reservations in one week had been enabled by the initiative.

It represents the highest level of interest so far in NewBuy, during the week commencing January 7th, and signals growth from the seven per cent of total reservations which have come through the scheme since its launch.

The award-winning housebuilder said that this success has given a welcome boost to the market by assisting both first-time buyers as well as those with a property to sell.

Sharon Eldred, sales and marketing manager said: “Our teams around the country have been particularly enthused by the NewBuy scheme which so often gives those who have worked hard to save, a chance to get their foot on the ladder. Those battling to get that vital deposit together find the required five per cent much more attainable.”

Linden Homes has also noted that lenders’ attitudes have changed of late and cites NewBuy as a key driver in this shift. The housebuilder highlights a drop in interest rates on the NewBuy scheme; witnessed since its inception last March.

Sharon added: “When the scheme began, NewBuy interest rates were higher; we have witnessed a drop of 1.75 per cent in less than a year which is giving a new confidence across the market.”

Linden Homes has also noted a shift in attitude from the lenders too during the past year, with many of its customers also finding that mortgage criteria is far less rigorous than in the past: “Feedback from our IFAs is that most lenders are keener to lend money than before; again with NewBuy noted as a catalyst to this positive change.”

-ENDS-

For further information, contact Claire McCowan or Lisa Kendall on 01962 893893.

30 January 2013

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