5. NewBuy

NewBuy lets you buy a newly built home with a deposit of only 5% of the purchase price.


To be eligible for NewBuy, your new home must be:

  • a new build – being sold for the first time or for the first time in its current form (eg a new flat that used to be part of a house)
  • priced at £500,000 or less
  • your main home - you can’t use NewBuy to buy a second home or a buy-to-let property
  • fully owned by you - you can’t use NewBuy for shared ownership or shared equity purchases
  • built by a builder taking part in the scheme

To be eligible you must be either:

  • a UK citizen
  • someone with the right to remain indefinitely in the UK

You don’t have to be a first-time buyer and there’s no limit on your level of income. But you can’t use NewBuy with any other publicly funded mortgage scheme.

How to apply

You apply for a mortgage from an approved lender. The lender will check that you can afford to repay it, as they would for any other type of mortgage.

You could get a mortgage of up to 95% of the purchase price if the lender is satisfied and you meet all the criteria.

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