The NewBuy initiative is now enjoying its highest reservation rate since it launched in March 2012, according to the Home Builders Federation.<br> <br> Since the start of 2013 more than 100 people per week have reserved a home under the 5% deposit scheme and total reservations currently stand at 3,000.<br> <br> The scheme is set to receive a further boost with the introduction of Part Exchange into NewBuy. Most housebuilders offering the NewBuy scheme can now offer to buy a customer's existing home before selling them a NewBuy home.<br> <br> HBF commented that the Part Exchange element would address another market barrier – existing home owners being unable to sell their home in a difficult market and with little equity.<br> <br> HBF's executive chairman Stewart Baseley said: "Allowing people to part exchange their existing homes and buy a new one using NewBuy will also be a huge boost for those families stuck in their existing homes, unable to sell and without the required deposit to move."