The development is in line with the government’s recently announced NewBuy initiative where first-time buyers only need a 5% deposit rather than the expected 20% for all new build properties.
The NewBuy search facility currently applies to a number of UK lenders including NatWest and Nationwide with more, like Barclays, expected to come on stream soon.
Matk Lofthouse, chief executive officer of Mortgage Brain, said: “Our NewBuy guarantee filter will allow brokers to quickly and efficiently source mortgages that have been specifically created for first-time buyers looking to purchase new build properties and want to take advantage of the low deposit requirement.
“We continue to invest millions in our products and services and our customers can look forward to further new capabilities being announced over the coming months and years.”
