Persimmon Homes Group Chief Executive Welcomes Government’s Statement on NewBuy Guarantee Scheme
12 March 2012
The group CEO of one of the UK’s leading housebuilders has welcomed today’s statement by the Government detailing plans for the introduction of the NewBuy mortgage guarantee product.
Mike Farley, group chief executive of Persimmon, said the new mortgage indemnity scheme would help buyers in to the property market, could potentially create thousands of jobs in the industry and will help stimulate the economy.
He said: “For many years the housing market has been held back because buyers have been unable to raise the 20 to 25 per cent deposit that lenders require.
“This scheme will provide a much needed shot in the arm for the whole housing sector, enabling people to buy a newly built home with a deposit of as little as five per cent, benefitting both first time buyers and those looking to move up the housing ladder.”
Further information can be found on our NewBuy scheme page.