Newcastle Building Society has announced it is to offer 95% LTV mortgages to buyers of new-build homes under a new mortgage indemnity scheme.
The ‘Deposit Unlock’ scheme has been developed with the Home Builders Federation and its members.
Initially available in the North East of England, the scheme has been designed to help more low-deposit borrowers secure a new-build home up to a value of £330,000, with a deposit of 5%. More information about the the society’s product rates is expected to be announced when the scheme launches in the next few weeks.
Newcastle Building Society suggested the scheme will provide low-deposit buyers with an alternative to both the recently launched government mortgage guarantee scheme and the Help to Buy scheme, which will end in 2023.
“Key to our purpose as a regional Building Society is to help more people get on and up the property ladder – especially those without access to the bank of mum and dad,” commented Newcastle Building Society customer director, Stuart Miller.
“Being the first lender to adopt the scheme means we’ll be providing new-build buyers with more options to access low-deposit mortgage products, and helping to address the pressing need for more homes to be built.”
AI, finfluencers and the future of broking
The mortgage industry is evolving faster than ever. In this MoneyAge video, we examine the opportunities and challenges redefining the broker landscape, from AI-powered lending and changing customer expectations to housing affordability, property supply and the rise of financial influencers. Our guest from Chorley Building Society shares practical insights on what brokers need to do to stay relevant and thrive in a rapidly changing market.
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories