Will quick house sales be prompted by the government’s New Buy Initiative ?

The York-based house builders, Persimmon, have confirmed their support and belief in the Government’s NewBuy initiative, insisting that it will get buyers on the housing ladder.

Persimmon says the Government’s NewBuy initiative to get buyers on the housing ladder is helping to increase the demand for new homes.

The York-based housebuilder detected a rise in interest following the launch of the NewBuy 95% loan-to-value mortgage guarantee product in March.

Regarding the NewBuy scheme, Persimmon said: ‘We believe this scheme will support increased sales activity for the UK housebuilding industry once all the major mortgage lenders have entered the market, and made NewBuy widely available at attractive rates.’

There have been some doubts expressed by critics about mortgage lenders’ commitment to the scheme, claiming that they have been pricing interest rates on the product too high.

Four mortgage providers – Nationwide, Barclays, Halifax and NatWest – have started offering products under the NewBuy scheme, while Santander have revealed that they will follow suit by the middle of the year.

April 26, 2012 at 8:52 am | Quick House Sale |
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