The New Build market is continuing to grow and the demand is still high due to both the ease of purchasing a New Build home due to the part-exchange option that developers offer & the continued support of the Government with the Help to buy equity scheme, offering 20% towards the deposit. Many people still believe that this scheme is only available for First time buyers, however this is not the case as the scheme is available to everyone subject to meeting the basic criteria. Rate remain extremely competitive with more lenders moving into the New Build market, offering more flexible criteria and specialists teams to cope with the fast turnaround that the developers demand for exchange of contract within 28 days of reservation.
At Firstxtra we too have a specialist team dedicated to New Build purchases, we have access to lenders that offer as little as 10% deposit on a New Build house which would be limited on the High street. We are used to the requirements set out by the developer and the Help to buy regulations. This is a very exciting and demanding market to be a part of which I enjoy, I am looking forward to growing this area within Firstxtra and keeping up the high level of service that we deliver on a daily basis, this we could not do without the continued support of our Administration team.