Cheaper interest for scheme buyers
THOSE who want to take advantage of the government’s NewBuy scheme should benefit from lower interest rates on 95 per cent mortgages.
Lisa Burns-Kent, new homes operation manager at Mortgage Advice Bureau, says: “Several lenders have just reduced their interest rates on 95 per cent mortgages through NewBuy.”
Redrow say a typical reduction of 0.3 per cent in NewBuy interest rates should save customers £28.87 a month on their repayments.
Redrow developments where NewBuy is available include Branwell Park, Guiseley; Wheatley Chase, Halifax; Scholars Gate, Wakefield; Saxon Court, Sherburn in Elmet; and Oaklands, Easingwold.