NewBuy picks up speed

And it's on track to support the sale of 10,000 properties a year.

In this month's Mortgage Strategy economic tracker, Andrew Baddeley-Chappell, Nationwide's Head of Mortgage Strategy and Policy, analyses the success of NewBuy in its first year.

Andrew says, "Recent figures released by Bellway - one of Britain's biggest house builders - reported that together with its Scottish equivalent MI New Home, NewBuy accounted for more than one in 10 of reservations."

"There is of course more to be done. The "open for business" message needs to be more consistently and forcefully conveyed by all, including Government, lenders, intermediaries and builders."

Read the full article here.