Developer Taylor Wimpey has launched a new video guide explaining the recently launched 95% mortgage scheme NewBuy.

The government and housebuilder-backed initiative, launched last month, has been hailed as a great boost for the housing industry and is being offered by a number of the major mortgage lenders.

NewBuy is available on new properties up to the value of £500,000 and means that credit-worthy buyers may now only need to save a 5% deposit before they can get on the property ladder.

Jason Stokes of Taylor Wimpey South East said: “We have received a great deal of interest in NewBuy from a variety of house-hunters.

“However, as with any new scheme, people are still a bit unsure about how it works. It’s important that potential purchasers are fully informed about all the different schemes available to them, which is why we decided to develop a simple video guide to help house-hunters further understand NewBuy and how it can benefit them.”

To view the video guide visit www.taylorwimpey.co.uk/newbuy. Taylor Wimpey has developments including Castle Walk in Rochester, Great Easthall in Sittingbourne and Watermill Grange in Loose, near Maidstone.