FREE MORTGAGE PROTECTION OFFERS PEACE OF MIND TO PART EXCHANGE BUYERS

November 2008

New Homes Part Exchange is making resale properties on housebuilders' books even more attractive by offering free mortgage protection insurance to anxious homebuyers. This move is designed to help housebuilders sell on the resale properties they inherit through part exchange deals.

The mortgage protection policy, along with a keen price and no onward chain, positions resale properties as favourably as possible for a quick sale. The policy provides instant redundancy cover for up to two years from exchange of contracts. The insurance covers mortgage payments of up to £1,000 per month for a maximum benefit term of 12 months.

Gaynor Hookings, Marketing Director, comments:

"Housebuilders are keen to expand their part exchange allocation, as market conditions increase the need for chain-free transactions. By offering free mortgage protection insurance on the second hand properties they are selling, combined with keen pricing, we can ensure we deliver the quickest possible sale. Cash flow is paramount currently, and it is absolutely crucial that housebuilders immediately sell on the properties they inherit through part exchange."

Mortgage protection insurance is a valuable incentive for homebuyers in the current market, many of whom are cautious about buying a new property or increasing debt at a time of poor job security.

-Ends-

Notes to Editors

New Homes Part Exchange, sister company of the New Homes Mortgage Helpline, is dedicated to providing a complete sales service to the housebuilding industry, specialising in part exchange. Launched in 2000, it has built an enviable reputation within the new homes industry and is now the fastest growing part exchange company in the UK.

New Homes Mortgage Helpline is the leading UK new homes mortgage specialist, providing mortgage expertise to House Builders and their clients.

Visit www.thenewhomesgroup.co.uk

For further information please contact The Wriglesworth Consultancy:

Sarah Lawrence s.lawrence@wriglesworth.com,
020 7427 1428

Claire Hendry c.hendry@wriglesworth.com,
020 7427 1407

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