By how many will NewBuy boost house building numbers?
Praised in some quarters and vilified in others, NewBuy appears to have been misunderstood and over-hyped. It’s not, for instance, as some think primarily a way to get first-time buyers (FTBs) on the housing ladder and it will not generate 100,000 “extra” new homes over the next three years. It is in essence an allocation of the overall mortgage pot supported by an indemnity fund that is design to provide high loan-to-value mortgages to buy new-build homes. But while it…