NewBuy fears recede after Halifax boost

摘要

The UK's largest mortgage lender to those buying new build housing, Lloyds HBoS, is in the process of signing up 83 housebuilders to its NewBuy scheme, writes Joey Gardiner. Stephen Noakes, mortgage director at Lloyds' Halifax business, reaffirmed the company's commitment to the controversial mortgage indemnity scheme, saying that 10% of the firm's business on new build housing was coming through it. NewBuy offers 95% loan-to-value mortgages backed by government and housebuilder guarantees, and is seen as vital to -increasing the volume of new home construction, with estimates it can boost sales by 15%. However, there has been speculation about how successful the scheme has been so far, with just 13 housebuilders having mortgage agreements in place.