Mortgages: Claim that lenders are failing to support the NewBuy mortgage scheme

Even though it was only launched a few short weeks ago the government’s flagship scheme to help first time buyers seems to have run into trouble. The NewBuy mortgage scheme is supposed to help people with small deposits, particularly first time buyers, buy new build properties. However, the Home Builders Federation (HBF) have voiced concerns that the scheme has not been embraced by mortgage lenders as it should have been and that it is “not at all what was envisaged”. The Executive Chairman of HBF, Stewart Baseley has sent a letter to home builders in which he said that the NewBuy scheme ...