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From Adviser Guide: New Buy Mortgages

Q: How can I make sure my client gets a decision quickly?

The nature of the NewBuy scheme means not all builders will be working with all lenders.

By Emma Ann Hughes | Published Jul 26, 2012 | comments

It is important to ensure the builder is on the approved list for the specific lender and the application meets the requirements of the scheme:

• Property must be in England.

• Property value must be less than £500,000.

• Applicant must be a UK national or have indefinite leave to remain.

• The property must be the applicant’s main residence.

• The property must not be being purchased through a shared ownership or equity share scheme.

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