NewBuy available to existing home owners too

Are you a home owner in need of more space but struggling to make the move up the property ladder? Well house hunters who thought securing a new home was out of their reach can now realise their dreams with NewBuy*, a new 95% mortgage scheme.

NewBuy*, a Government and housebuilder-backed scheme aimed at increasing the availability of low deposit mortgages, is being offered by Taylor Wimpey Midlands on homes at its Elm Tree Copse development in Coventry.

A common misconception is that the scheme is aimed exclusively at first-time buyers, however this is not the case; the initiative is available on brand new properties up to the value of £500,000, meaning home movers with limited equity in their existing house will also benefit from the increase in availability of 95% loan to value mortgages.

Anne Wallace, regional sales and marketing director for Taylor Wimpey Midlands, explains: “As people’s circumstances may change due to retirement, location change or even a separation, it’s important for existing home owners to realise that NewBuy can offer a fantastic solution to their home buying problems. The scheme will help a wide range of buyers who have had to put their dreams of moving up the property ladder on hold due to the size of deposits required by mortgage lenders.”

Taylor Wimpey is offering the scheme on a range of homes at Elm Tree Copse including the fantastic Wessex house type.

This three bedroom semi detached home, priced from £169,995, with a deposit of just £8,500 needed, features a generous living room, kitchen and cloakroom on the ground floor; with the master bedroom, with en suite, two further bedrooms and modern main bathroom occupying the first floor. The property is completed by a private rear garden and two allocated parking spaces.

Anne adds: “So if you think you’re destined to be stuck in your current home forever then don’t despair! Why not visit Elm Tree Copse and find out more about NewBuy!”

Once complete, Elm Tree Copse, on Bennetts Road, will comprise a collection of just 38 stylish two, three and four bedroom homes. Prices currently start from as little as £129,995* for a two bedroom terrace, through to £239,995 for a four bedroom detached home.

For further information on NewBuy* and to find out how Taylor Wimpey can help get you moving visit the development, open Thursday to Monday from 10am – 5pm. Alternatively, log on to taylorwimpey.co.uk.

*Subject to terms and conditions.