*We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies.
More info
Persimmon Homes

New Government scheme most significant since crash

15 March 2012

Today’s launch of a new Government-backed mortgage scheme is the most significant boost the mortgage market has received since the economic crisis first hit the housing market in 2007.

Mike Farley, group chief executive of Persimmon, said the new mortgage indemnity scheme - NewBuy - which is officially being launched today by the Government, is the first in several years to offer people in England the chance to buy a new home with only a five per cent deposit.

“Today’s launch of NewBuy by the Government is hugely significant as it removes the obstacle of a large deposit which has been a key factor holding back the housing market in recent years. NewBuy opens up a 95 per cent mortgage product to both first-time buyers and those looking to move up the property ladder. Importantly, it has no salary cap and is available to purchasers of new homes up to the value of £500,000.

“Initial rates from the large highstreet lenders to support this product look very favourable, making NewBuy an attractive mortgage option for buyers of new build homes.  NewBuy is a much-needed shot in the arm for the whole housing sector and – with research showing every new home built creates five jobs – the Government’s provision of up to 100,000 NewBuy mortgages will also give a welcome boost to UK growth and employment.”

A similar scheme for Scotland is currently being looked at, with a view to launch in the coming months.

Finishing Touches

Create a look that's as individual as you are. Add the finishing touches to your Persimmon home.

Supporting your communities

Our Community Champions programme was established in 2015 and has already donated more than £3 million to over 3,500 good causes across Great Britain. Every month whilst the programme is running, our 32 regional businesses together give away 64 donations of up to £1,000 each. It's easy to apply for your local good cause.

Annotation 2020 09 03 113957

Persimmon Homes is delighted to be joining forces with Team GB: the Great Britain and Northern Ireland Olympic Team run by the British Olympic Association, to give away an amazing £1 million to support children across England, Wales and Scotland.

Annotation 2020 09 03 114032

Our hugely successful Community Champions programme has already donated more than £1 million to good causes in England, Wales and Scotland. Every month we give away 60 donations of up to £1,000 each to local groups and charities.

Showcase your style

Why not share your own photos on Instagram using #lovemypersimmonhome for a chance to win a £100 Next voucher. Visit our Facebook page for terms and conditions.