Landlord teams up with RBS for NewBuy
Published by Max Salsbury for 24dash.com in Housing and also in Development, Finance
Landlord teams up with RBS NewBuy
Orbit Homes has become an approved provider of the Government-backed NewBuy scheme - which allows buyers to secure a mortgage with 5% desposits.
Having joined forces with the Royal Bank of Scotland (RBS), Orbit will offer NewBuy to those previously priced out of homeownership.
Under the scheme, Orbit invests a sum with RBS as a desposit and security for the mortgage lender which is refunded after a number of years.
NewBuy is designed to help all buyers rather than just those taking the first step on the property ladder.
Chris Craig, Sales Director for Orbit Homes, said: “We are delighted to have been approved as a provider of NewBuy and are confident that the scheme will enable access to home ownership for those currently unable to get a mortgage, due to not having access to more than 5 per cent savings of their own. Our financial commitment to this scheme shows we are investing in the future of the sector and our customers.”