More join mortgage indemnity scheme
MI New Home has now been backed by Bellway Homes, Deveron Homes and Mansell Homes – bringing the number of home-builders taking part to 15.
The scheme has been designed to help overcome the difficulties caused by large deposit requirements which have locked many credit-worthy buyers out of the market.
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Hide AdPaul Smee, director-general of the Council of Mortgage Lenders, said: “It increases the options for households who may have been feeling constrained, and offers lenders additional assurance by offsetting some of the risk they would otherwise face.”