Halifax this week joined Nationwide, NatWest and Barclays in unveiling a range of mortgages for people who want to buy a new-build home under the government's NewBuy scheme.
Launched with much fanfare a month ago, the NewBuy programme is designed to help first-time buyers and home movers who want to trade up.
It is designed to give people access to mortgages, even if they can only manage a 5% deposit. Under the scheme, housebuilders and the government underwrite mortgages secured on new-build houses and flats. However, it is only running in England and to be eligible the property must have been built by one of the developers taking part in the scheme, and cost no more than £500,000.
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