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TheNewBuy Gui de


Whati sNewBuy? NewBuyi sanew schemeendor sedbyt heGover nmentt ohel ppeopl emoveupt he pr oper t yl adder . I nt oday’ seconomi ccl i mat e,manypeopl ear est r uggl i ngt of i ndt hemoneyt ogeta mor t gageandbuyt hei rownpr oper t y . Becauseoft hi s,t heGover nmenthasdeci dedt obackaser i ousofschemesai medt o easet hef i nanci alst r ai nt hatcomeswi t hpur chasi ngahouse. NewBuyi sonesuchscheme. I tal l owst r adi t i onalmor t gagel ender st oof f er95% mor t gages,wher et hel enderneeds t oonl ypr ovi de5% oft hepur chasepr i ceoft hehomei nor dert osecur ei t . Thi si sgr eatnewsf ort hosewhof eelt heycanmakemont hyr epayment sbutf i ndsavi ng ar ealst r uggl e.

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How Doesi tWor k? NewBuywor ksasacooper at i vebet weent hehomebui l di ngi ndust r yandmor t gage l ender sal ongwi t ht heGover nment . I ti sonl yavai l abl eont hepur chaseofnew bui l dhomes. Mosthomebui l der sar enow i nvol vedi nt heschemei nsomewayandwor kasa par t ner shi pwi t honeormor emor t gagel ender st opr ovi det hese9095% mor t ages. Homebuyer swhowantt ot akepar ti nt heschememustqual i f yf oramor t gagei nt he t r adi t i onal way ,meet i ngt heusualcr i t er i af r om apar t nerl ender . Thei rmor t gagei st henpr ot ect edusi ngaguar ant eewhi chi spai dpar t l ybyt hehousi ng devel operandpar t l ybyt heGover nment .Thi si st opr ot ectt hel ender sagai nsany possi bl el ossesf r om r epossessi onornonpaymentoft hel oan. Thehomebuyer ’ sr esponsi bi l i t yi st obeabl et opr ovi det he1015% deposi tandmeet t hemont hl yr epayment s.Theymustbebuyahomef r om ar egi st er eddevel oper i nvol vedi nt heschemeandqual i f yf oramor t gagef r om t heagr eedl ender . Theymustal someetsever alel i gi bi l i t ycr i t er i a.

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Am IEl i gi bl e? Toqual i f yf oranew buyschemeyoumust : -Bebuyi nganew bui l dpr oper t yupt ot heval ueofÂŁ500, 000 -BeaUK ci t i zenorl egal l yper mi t t edt ol i vei nt heUK i ndef i ni t el y -Notusei ti nconj unct i onwi t hanyot herschemei . e.Shar edOwner shi porShar ed Equi t y -Bepur chasi ngapr i mar yhome,t heschemecannotbeusedonsecondhomes, pr oper t i esboughtf ori nvest mentorbuyt ol etpr oper t i es. -Useacapi t alr epaymentmor t gage,notani nt er estonl ypol i cy -Notber eci evi nganyf i nanci alai df oryourdeposi tf r om l ocalaut hor i t i esorot her or gani sat i ons -Qual i f yf oramor t gageandbeabl et omeett hemont hl yr epayment st oavoi d r eposessi on. Theschemei savai l abl ef orbot hFi r stTi meBuyer sandExi si t i ngHomeOwner sandt her e i snocaponi ncomet oqual i f y . Sear chf oryournew home newhomesf or sal e. co. uk


Wher ei si tAvai l abl e? Att hemoment ,NewBuyi sonl yavai l abl ei nEngl and,onnew bui l dpr oper t i esupt ot he val ueofÂŁ500, 000. Mosthousebui l der sar enow i nvol vedwi t hhomebuyi nsomeway . Youcansear chonwww. newhomesf or sal e. co. ukt of i ndbr andnew bui l dpr oper t i esi n yourar ea. Regi st er eddevel oper swewor kwi t hwhoof f erNewBuyi ncl ude: T ayl orWi mpey Per si mmonHomes Redr ow Homes Keepmoat , -CavannaHomes -Lovel l andmanymor e Thedevel oper swi l ll etyouknow whi chl ender st heyar ei npar t ner shi pwi t hi nor dert o or gani seyourmor t gageonceyouhavesel ect edt hepr oper t y . A si mi l arschemei scur r ent l ybei ngdevel opedi nScot l andcal l edMiNew Home.

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How t oGetI nvol ved: Togeti nvol vedyouneedt ost ar tvi ewi ngpar t i ci pat i ngdevel opment sorvi si t i ng mor t gagel ender si nvol vedi nt heschemet odi scussyourel i gi bi l i t y . Youcanal sodi scusst heschemewi t hi nt er medi ar i esorf i nanci aladvi sor swhoar e i nt r oduci ngNewBuy . Onceyouhaveyourmor t gageof f erandhavef oundasui t abl epr oper t yyoucanbegi n t her oadt obecomi nganew homeowner . Fur t heri nf or mat i oncanbef oundf r om t heDepar t mentofCommuni t i esandLocal Gover nmentandf r om t heHomeBui l der ’ sFeder at i on. Al soseet hegover nment swebsi t ewww. newbuy . or g. uk.

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NewBuyAr oundt heUK: I ni t i al l y ,NewBuywasonl yavai l abl ei nEngl andbutnow new schemeshavemadei t avai l abl eacr ossScot l andandWal es. MiNew Homei st he95% mor t gageschemef orScot l and. NewBuyCymr u,l aunchedi near l y2013hasspr eadt heschemei nt oWal es. Bot hoft hesei ncent i veswor ksi mi l ar l yt ot heor i gi nalNewBuyandwi l lbeavai l abl eon sel ect edhomesf r om sel ect eddevel oper sacr osst hei rr espect i vecount r i es. Formor ei nf or mat i ononMiNew Home,vi si t : ht t p: / / www. homesf or scot l and. com/ mi _new_home. aspx Formor ei nf or mat i ononNewbyCymr u,vi si t : ht t p: / / www. newbuy . or g. uk/ newbuywal es/

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7Rot herSt r eet St r at f or duponAvon War wi ckshi r e CV376LU Tel-01789297005/emai l-i nf o@newhomesf or sal e. co. uk HeadOf f i ce:Basepoi ntBusi nessCent r e Cr abAppl eWay Val ePar k Evesham Wor cest er shi r e WR111GP


NewBuy Guide inc Wales