Halifax has become the fourth lender to launch a product range to support its participation in the NewBuy scheme.
Lenders including the Royal Bank of Scotland, Nationwide and Barclays, all launched NewBuy mortgages last month, while Santander announced it would launch products later in the year.
Halifax’s NewBuy products are available from today through its branch network and selected intermediaries.
The deals are designed for borrowers with a 5% to 10% deposit purchasing a new-build property from the selected housebuilders.
Products include a two-year fixed mortgage at 5.99% with a £999 fee and a two-year fixed mortgage at 6.39%, with no product fee. There is no mortgage account fee of £265 payable on either product.
NatWest’s NewBuy range is the most competitively-priced with its two-year fixed rate at 4.29%, however the product is only available direct through its call centre.
Nationwide has made its deals available through intermediaries only and Barclays said its deals will be primarily sold through IFAs.
Stephen Noakes, mortgage director at Halifax said, "NewBuy will put the purchase of a new-build home back within the grasp of both first time buyers and homemovers, and will give a much needed boost to housing supply."
Housing Minister Grant Shapps added: "The NewBuy Guarantee is offering help for thousands of people who in many cases had previously given up on the dream of home ownership."
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