NewBuy Scheme - 95% mortgages for New Builds

Posted: 21 September 2012 by Higgins Homes


We at Higgins Homes are pleased to announce that we are now offering properties on a 95% mortgage scheme, in partnership with the government backed initiative that is NewBuy. The scheme was launched back in March of this year, developed with the aim of helping those who have been unable to buy their first home or move house, by removing the barrier that putting down a large deposit presents.

There are several large banking groups who have got involved with the NewBuy initiative. At this present time Barclays, Halifax, Natwest, Nationwide and Santander are all offering 90-95% loans for customers involved in the NewBuy strategy. The new scheme will give buyers the opportunity to purchase a brand new property with Higgins Homes, up to the value of £500,000, with only a 5% deposit, meaning that owning your dream home may be more of a reality than you initially thought.

We offer stylish properties in and around the Essex area, ranging from one bedroom flats to family homes, all at very affordable prices, so it is unlikely that they will be around for long. In order to be eligible to buy a home under the NewBuy scheme there are several criteria that you must adhere to, they are as follows:

  • The property you are purchasing must be priced below £500,000
  • Both first time buyers and established home buyers may purchase a property
  • The property you are purchasing must be used as your main dwelling
  • Purchasers must have the right to permanently reside in the UK or be UK citizens.
  • Properties may not be purchased as second homes, buy-to-let or for shared ownership or equity purposes.

Should you find that you are eligible to purchase one of our properties we may be able to offer you up to a 95% Loan to Value mortgage to assist you in this process, so why check out our website at to find out more about our latest NewBuy developments.

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