View more on these topics

Halifax hits 1,000 NewBuy applications

Halifax says it has hit the 1,000 mark for NewBuy applications seven months after it launched its product range for the Government backed scheme.

The scheme was first launched in March this year, initially with NatWest, Barclays and Nationwide.

Halifax joined the scheme with a range of 95 per cent LTV deals a month later on 16 April.

The lender says it has so far partnered with 40 builders so far, which it says is up to 10 time the number of some lenders

While the majority, some 76 per cent, of applications have come from first-time buyers, around a quarter have been received from homemovers.

The South East accounts for just under a third of the applications but properties have been purchased in each region across England.

Halifax Intermediaries head of sales Ian Wilson says, “We constantly review the range to ensure that we continue to lead the market when it comes to NewBuy.

“We have processing teams dedicated to supporting these applications, and brokers can benefit from our fully automated system when placing business.”

Home Builders Federation revealed at the beginning of November that over 2,000 people have now reserved new homes through the NewBuy scheme since its launch in March.

Initially when the NewBuy scheme was set the government pledged that it would provide some 100,000 new homes.

But in October the HBF admitted that only a quarter of this amount will be provided, with new housing minister Mark Prisk stating that the 100,000 new homes figure is not a target but the maximum liability the Government is willing to accept.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm