Mortgage broker backs first-time buyers’ pilot scheme

Mortgage Advice Bureau has partnered with a housebuilder on a pilot scheme, which aims to help first-time buyers onto the property ladder.

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The Pride Park-based firm has become the official mortgage broker for the new First Homes scheme pilot at the Keepmoat Homes Meadow View development in Shirebrook, Derbyshire.

Providing specialist new-build mortgage advice across the UK, MAB has become the first mortgage broker as part of the scheme, supporting Keepmoat to financially qualify buyers and working alongside Homes England.

Initially, 12 plots have been identified on the site for the new government First Home scheme, which provides local first-time buyers with a guaranteed discount of 30% on a new build property against the local market value.

Mark Pender, business principal and new build specialist at MAB, said: “New build is often complex in terms of mortgage advice and requires specialists to understand the finer details of schemes such as this.

“We’re proud to be one of the first and only mortgage broker firms supporting the government’s next big affordable housing project, with the Help to Buy scheme ending in 2023.”