Linden Homes Western Welcomes Government's Newbuy Guarentee

Linden Homes Western has welcomed the launch of the government’s NewBuy Guarantee as a major step forward in encouraging more buyers back to the market. The developer is delighted to announce that this scheme will be available at select developments in and around Bristol including: CMYK, St. George; re:fresh, Chippenham; Kingston Mills, Bradford-on-Avon; Raikes Chase, Gloucester and The Forty, Cricklade.

Adrian Bird, sales and marketing director at Linden Homes Western, comments: “It is fantastic that we’re going to be able to offer our new buyers this scheme. There has been a real lack of mortgage availability which has affected purchasers being able to buy a new home so hopefully this government incentive should help to move things forward.”

Ian Baker, Linden Homes group divisional managing director, said: “It is encouraging to see the government making a bold move in boosting mortgage availability and showing real confidence in the market once again. New home construction provides a significant contribution to the UK’s general economic growth and the availability of mortgages is a major contributing factor in this.

“We’ve secured partnerships with three major lenders to enable us to offer NewBuy at our developments and are now keen to see as many major high street lenders as possible get on board with the scheme to ensure its benefits can be felt across the country.”

In November, the Prime Minister, the Rt Hon David Cameron MP, announced plans for the NewBuy Guarantee from Linden Homes’ Boxgrove Gardens development in Guildford.

Ian added: “We know the demand for new homes is there, and we are seeing record numbers of people visiting our sites across the country – last quarter alone, we had almost 2,000 first-time buyers register interest, via our website, to receive information about our specific developments. However, buyers are telling us that mortgages remain difficult to obtain. And it’s not just first-time buyers saying this – many existing homeowners are struggling to move into a new home because of a lack of equity in their properties due to a downturn in valuations.”

Adrian continues: “We believe NewBuy will further extend a helping hand to people struggling to get on, or step up, the property ladder, and its visibility will help to provide buyers with the confidence they had pre-recession that responsible lending is attainable.”

At the end of last year, Linden Homes became the first house-builder to launch its own 95-per-cent mortgage indemnity scheme, “Step Up”. Similar to NewBuy, Step Up is open to all new home buyers with a 5-, 10- or 15-per-cent deposit, and offers a mortgage fixed until April 2015.

For more information about NewBuy, and how it could help you, contact the Linden Homes Western head office: 0117 930 4949

-ENDS-

For further information, contact Emma Hemmings at MMS on 01889 584808.

13 March 2012

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