The NewBuy scheme is aimed at first-time buyers and those who already own a home who only have funds for a 5 per cent to 10 per cent deposit on a newly built home in England.

This guide tackles the pros and cons of the scheme, how to source the best deal and how to qualify for this type of mortgage.

Answers supplied by Jayne Walters, press officer of the Council of Mortgage Lenders, and Andrew Baddeley-Chappell, head of mortgage strategy and policy on the NewBuy scheme for Nationwide.