Halifax has signed up its 50th house builder partner on the NewBuy scheme so it now has links with 69 individual builder brands.
The NewBuy scheme allows borrowers to buy a new build property with a 5 to 10 per cent deposit.
To date, Halifax has helped around 1,475 buyers purchase through NewBuy representing one in three of all applications and completions on the scheme.
Since the launch of NewBuy in March 2012, Halifax has partnered with large UK-wide builders but also works with smaller local and regional builders through a multi-user cell network. This ensures that lower volume builders can also participate in the scheme.
Stephen Noakes, mortgage director at Halifax, said: “Our commitment to NewBuy has been clear since the scheme launched. We are continuing to increase the number of builders we are working with. It is a testament to our commitment to put the purchase of a new-build home back within the grasp of both first-time buyers and homemovers.”
Halifax recently reduced rates on its two-year 90-95 per cent LTV NewBuy mortgages, with rates now available from 4.99 per cent with a £999 fee and 5.39 with no fee. Halifax also has a seven-year mortgage for loans between 90-95 per cent LTV at 4.99 per cent.
Having launched its NewBuy products in April 2012, they were initially only available through Halifax branches and 50 mortgage Intermediaries. Distribution has now been extended to over 78 mortgage intermediaries.
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