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SAN share (Madrid) Negativo_GB 4.3115 | -2.52% | 17:35

Abbey for Intermediaries joins the UK Government NewBuy scheme

  • On Monday 14 May, Abbey for Intermediaries, part of Santander UK, launched their NewBuy range of mortgages supporting their ongoing commitment to the Intermediary and UK housing market

17 de mayo de 2012. The NewBuy scheme was launched by David Cameron, Prime Minister of the UK, on Monday 12 March. In today’s difficult market conditions, the scheme is designed to help both First Time Buyers and home owners with smaller deposits secure a mortgage of between 90% and 95% LTV on a New Build property in England. House builders and the Government have committed to cover a limited amount of any future losses that lenders in the scheme could suffer.

Phil Cliff, Director or Mortgages and Personal Loans, said the launch of NewBuy “reflects our commitment to NewBuy and customers, particularly first time buyers looking to get a start on the housing ladder. The range will have wide appeal and is designed to meet the needs of both first-time buyers looking to buy their first home and existing homes owners who are considering moving house.”

Miguel Sard, Managing Director of Intermediary Distribution said, “We are delighted to be participating in and supporting the UK Government’s NewBuy scheme. Our participation reflects our ongoing commitment to the Intermediary and UK housing market and supports our aims to create innovative products that drive quality business whilst putting the customer first.”

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