New Buy

The NewBuy scheme allows you to purchase a newly built home with a deposit of only 5% of the purchase price.

Qualification

To qualify for the NewBuy scheme your new home must :

  • Be a new build property on the market for the very first time.
  • Be priced at £500,000 or less.
  • Be your main home.
  • Be fully owned by you.
  • Be built by a builder who is part of the NewBuy scheme.

You must be:

  • A UK citizen
  • A UK Passport holder.

You do not have to be a first time buyer but you cannot use NewBuy in conjunction with any other publicly funded mortgage scheme.

Application

You must apply to an approved lender for a mortgage and you could get up to 95% of the purchase price if you meet the requirements as outlined above.