NewBuy sales hit by mortgage rates

AOL Money Staff
Building new homes
Building new homes

A scheme that aims to help people with smaller deposits buy a new-build home has been scuppered by the high rates of lenders, a major builder said.

Redrow has attracted just 63 customers to the Government-backed NewBuy mortgage indemnity scheme since it was launched in March.%VIRTUAL-SkimlinksPromo%