Ote Park

With a 95% mortgage you could be moving into a new home sooner than you thought. It's available to anyone buying one of our new homes in England, up to a maximum of £500,000.

Under the new programme, developed jointly by the Home Builders Federation (HBF) and Council of Mortgage Lenders, 95% percent mortgages will be made available to existing homeowners as well as first-time buyers (FTBs) on new-build properties (houses and flats) worth up to £500,000.

The typical deposit needed to buy a home is 20 per cent; so for a home worth £200,000 buyers using the NewBuy scheme need a deposit of just £10,000 rather than £40,000.

NewBuy Eligibility Criteria:-

• The NewBuy scheme is only available to purchasers of new build houses or flats, priced up to £500,000.
• Purchasers may be first-time buyers, living in rented or those already on the property ladder.
• Purchasers must be UK citizens or those with a right to remain indefinitely in the country.
• The NewBuy scheme is only open to those purchasing their principal home.
• The NewBuy scheme is not available for shared ownership or shared equity purchases.

*NewBuy is NOW AVAILABLE when you Part Exchange.

Please click here for a printable version of the NewBuy scheme.

How it works

The company will select at least two local estate agents, and arrange for independent valuations of your property.

We aim to make you a part exchange offer within 48 hours of receipt of the valuation.

If your property is currently on the market, your agent will not necessarily be one of the agents who is asked to prepare valuations unless you have signed a specific contract with that agent, in which case please let us know.

We will take an average of the valuations of your property and make you an offer based on that amount.

If our offer is accepted, you can reserve your new Bloor Home, subject to contract and satisfactory structural survey plus a visit from a Bloor Homes member of staff to view your property.

You must pay a deposit of £750, this covers the increased administration and survey costs.

We will help you to choose a solicitor and provide you with independent financial advice, to ensure that completion of the purchase of your new home is achieved in an agreed timescale.

Once the results of the structural survey are received, we will discuss the report with you, and on the basis that it is satisfactory, you can proceed with your purchase - and leave the rest to us, giving you more time to concentrate on moving to your dream home.

You do not have to worry about purchasers changing their mind and wasted solicitors fees, or agreeing completion dates with a long house chain - it’s just you and Bloor Homes working together to help you move on time, with no stress.

The Bloor Homes Part Exchange Scheme is subject to our purchasing critieria and may be withdrawn at any time.

Available on selected plots, and cannot be used in conjunction with any other offer.

Should your house be sold whilst in occupation Bloor Homes will pay an early sale bonus.

Visit the Part Exchange Homes Website