NewBuy 95% mortgages
95% mortgages are now available at Cavanna Homes with NewBuy, the government-backed scheme. Whether you are a first time buyer or have just outgrown your current home then NewBuy could help you.
You could be moving into your new home sooner than you thought. The NewBuy scheme could help you get a 95% mortgage, meaning you only have to raise 5% deposit (instead of a typical 20% deposit) and you don’t need to meet any special criteria to qualify. It is available to any UK citizen buying a New Build home for use as their main place of residence, up to a maximum of £500,000. Cavanna Homes currently offer this scheme across all of their sites in conjunction with Lloyds, Halifax and Nationwide Building Society.
This is not a shared equity scheme, a NewBuy purchaser owns 100% of the property and the Government and the house builder jointly underwrite the scheme, at no extra cost to you.
If you are interested in finding out more about how NewBuy could help you, contact us at a development near you and we will put you in touch with an Independent Financial Advisor who will be able to advise you further on what mortgage is best for you.
Alternatively, you can call us on (01803) 618688 or register your details with us and we will get someone to contact you.
To see a case study on how the NewBuy scheme has already helped a family buying at our Evolve development in Torquay please click here.