Affordable housing isn’t a pipedream, it’s real

Affordable housing isn’t just for first-time buyers.

Many of our customers will go through a change in personal circumstance. Whether that is in the shape of a divorce, change in employment or relocation, lenders need to be flexible to meet the fluctuating demands of today’s modern mortgage market. 

We have seen a surge in applications solely related to affordable housing and government schemes. The great news is that along with this there are a variety of different ways in which house-hunters of all ages and stages in life are able to obtain a mortgage in an affordable way. 

Affordable housing schemes and other ways to purchase

  • Government schemes such as Shared Ownership and Help to Buy Equity Loan
  • Family help through Joint Borrower – Sole Proprietor
  • Gifted deposit from the Bank of Mum and Dad (now Granny and Grandad, and even Sister and Brother)
  • Split mortgage by term, by product and by repayment type
  • Do It Yourself Shared Ownership (DIYSO) with a registered provider on any property available on the open market

You just need a lender who is willing to put in the extra elbow grease to ensure those needing something a little bit special are catered for by taking the time to find the right option for each customer. 

That’s where we come in. Already we’ve helped parents boost their loved ones borrowing power, divorcees starting afresh, those whose employment situation has changed or those who are relocating to an area with much higher housing prices. These customers had the same goal – to obtain an affordable mortgage.

At Newbury Building Society, we are always supportive of new initiatives to help people step onto the property ladder. Abolishing stamp duty has already reduced a fraction of the financial expense of those looking at affordable housing while awareness of the golden opportunities Shared Ownership can bring is now being celebrated more than ever before.  

But, there is still a long way to go. The industry needs to continue to work together to future-proof affordable initiatives and educate the mainstream that schemes offer a viable option for homeownership. It’s all about making the impossible, possible. 

Why should you work with us? Proof is in the pudding:

“We had a case where the client was in urgent need of an offer and with year-end looming, we knew it was going to be a tall order. We placed the case with Newbury and asked if there was anything that could be done to help the client get the offer they needed, so that they didn’t lose out on their new home. What followed from Newbury was amazing. They picked up the case almost immediately and fast tracked it to offer for us without any fuss and way quicker than we would expect. They were so keen to help and support that customer, it was incredible.”

Kelly McCabe, Managing Director of The Mortgage People

Don’t forget: We lend across England and Wales for  Shared Ownership and Help to Buy Equity Loan, we do not credit score, all our mortgages are individually underwritten and we consider unusual properties and circumstances, including self-employed and contractors.

Matthew Long Senior Business Development Manager

Matthew develops and manages a network of mortgage introducer relationships. He proactively manages existing referrer relationships and helps to develop new intermediaries referrals to the Society.

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