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Kier Homes joins New Buy

Housebuilder Kier Homes has joined the New Buy mortgage guarantee scheme.

It will work initially with lender Halifax to provide mortgages of up to 95 per cent on all its developments in England.

Sales and marketing director David Thomas said: “New Buy now offers our buyers a welcome new avenue of finance.”

New Buy is a government initiative designed to resuscitate the housing market by helping buyers of new homes to overcome the gap between their price and what wary lenders are willing to advance.

Participating lenders will provide a 90 to 95 per cent loan-to-value mortgage, guaranteed by the government for qualifying buyers.

The Home Builders Federation has said that New Buy reservations reached 400 in the scheme’s first two months.

The other participating builders are: Barratt, Bellway, Bloor, Bovis, Cala, Crest Nicholson, Croudace, Fairview, Langan, Linden, Persimmon, Redrow and Taylor Wimpey.

New Buy is backed by five lenders:  Barclays, Halifax, Nationwide, NatWest and Santander.


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