Legal news

New scheme aims to help housing market

Samantha Robertson-Strong Samantha Robertson-Strong
2 min read

A new scheme has been launched by the government to give a shot in the arm to the beleaguered housing market.

The NewBuy Guarantee Scheme, which was announced last year but now comes into effect, is aimed at helping as many as 100,000 would-be buyers purchase a new-build property with a deposit of as little as 5% as opposed to the 20% which is usually required.

The scheme, which is backed by the Home Builders Federation and the Council of Mortgage Lenders, had been intended to assist first-time buyers only but has been extended to include all those hoping to move home. It would apply to flats and houses up to a value of £500,000 and would see developers contributing 3.5% of the purchase price with the government guaranteeing 5.5%.

There are fears that lenders will not throw their weight behind the scheme while concern has also been raised about recent rises in mortgage rates which could deter would-be buyers from getting involved. It is also thought that people with a poor credit history will not benefit as they would be subjected to the same checks as they are with mortgages generally.

However, the Council of Mortgage Lenders believes the scheme will get the support it needs from the lenders to ensure it is a success. A spokesman said: “This is part of a wider approach to stimulating demand in the economy and it is part of a growth package and a series of measures.”

Client feedback

I cannot speak for Winston Solicitors as a whole, but I can confidently recommend Leasa Foster, who we’ve used twice now for moving house. On both occasions she has been outstanding. Without her, I’m certain the chain would have fallen into disarray, and completion would have been delayed by at least a month or two.Leasa took control, coordinating solicitors both above and below us in the chain to ensure paperwork was completed on time. In fact, some of the documents that others were only just starting, she had already handled months in advance.Overall, I’m extremely satisfied with the service from Leasa, Julie, and the team at Winston Solicitors. I’ll have no hesitation using them again—unless Leasa moves firms!
Jack
We’ve used Winston Solicitors for three property transactions now, and they have been outstanding every time. Sidraa and Tom always go above and beyond – communication is clear, there are never any delays from their side, and the whole process is handled smoothly from start to finish. We’ve even recommended them to friends, who were equally impressed. I always get asked by Estate Agents to use their solicitors but always politely decline because of the service Sidraa and her team offer.
Tariq
Effecient and pay attention to every single details, highly recommended
Anonymous
Winston solicitor's was chosen by us to handle the conveyancing for our house sale and purchase. We were appointed Sam as our solicitor and we couldn't have asked for anyone better. Sam went above and beyond to assist me with my enquiries, demonstrating an impressive depth of knowledge. Our sellers solicitors could be quite problematic at times but Sam worked hard to ensure that obstacles were handled promptly, and that we were kept up to date with any progress.What stood out for me was Sam's genuine commitment to customer satisfaction. Her friendly demeanor and positive attitude created a welcoming atmosphere making me feel valued as a customer. In conclusion Sam exemplifies the epitome of customer service. Her professionalism, expertise, attention to detail and genuine care for the customer deserves recognition. I would not hesitate to recommend Sam to anyone seeking an exceptional service. Thank you for your outstanding support and dedication.
Mr & M
Winston Solicitors were excellent throughout our house purchase process. Leasa and Michelle who handed our conveyancing were very responsive. Highly recommend.
Mr Agunwa
I've used Winston Solicitors on multiple occasions for property sales an also to purchase and it will definately not be the last.This firm is professional and a massive shout out to sidraa who both times dealt with my purchase & sale of property.She is an absolute asset to Winston Solicitors and is the best out there at her job.Please keep up the great work and hopefully speak to you all again soon on my next purchase.
Noor
Winston solicitors were absolutely brilliant from start to finish. I was a first time buyer and had so many questions and worries. Michelle made the process as smooth has possible. She was always on hand to answer any queries and was very responsive. My purchase went through very fast. I could have not ask for a better solicitors and would highly recommend to anyone.
Kimberley
We’ve just completed a sale and purchase with Winston Solicitors and honestly couldn’t be more impressed with the service. Leasa, Julie and the team were fantastic from start to finish - thorough and very efficient, even when things were stressful and complex in our chain. Communication was clear and prompt throughout, and we always felt reassured that they were on top of every detail.It was our first time buying and selling which was quite a stressful process but we felt in very safe hands with Winstons and we wouldn't hesitate to recommend them. Thank you!
Emma
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