400 properties reserved through NewBuy scheme

Figures released today by the Home Builders Federation reveal that 400 people have reserved new homes through the NewBuy scheme since its launch nine weeks ago.

NewBuy allows buyers to secure their new build home with a 5% deposit. Since its launch in March, the number of builders and lenders registering for NewBuy has steadily increased, with the fifth lender, Santander launching its NewBuy products this month.

Stewart Baseley, executive chairman of HBF, says reaching 400 NewBuy reservations within weeks of its launch is a fantastic start.

He says: “These figures make us very confident that the scheme will deliver tens of thousands of sales over the coming years. 

“As today’s house building statistics show, we have an acute housing delivery problem. By enabling home buyers to purchase a new home, NewBuy will kick-start new home construction, creating economic growth and thousands of jobs across the country.”