SPECIALIST ADVICE
New-build mortgages
New-build purchases can involve reservation deadlines, incentives, delayed completion and mortgage offers that may need extending. We help you prepare early and choose a lender whose criteria fit both you and the property.
Plan around the developer’s deadline
New-build purchases can involve reservation deadlines, incentives, delayed completion and mortgage offers that may need extending. We help you prepare early and choose a lender whose criteria fit both you and the property.
Reservation period
Understand when the mortgage application must be ready and what the developer expects.
Builder incentives
Check how cashbacks, deposit contributions and upgrades are treated by the lender.
Valuation and warranty
Confirm acceptable warranty arrangements and how the lender will value the new property.
Offer extensions
Plan for construction delays and understand what happens if the mortgage offer expires.
New-build mortgages FAQs
Can I use a 5% deposit on a new build?
Some lenders offer high loan-to-value new-build mortgages, but limits can differ for houses and flats and eligibility remains case-specific.
Will builder incentives affect my mortgage?
They can. Lenders normally require incentives to be disclosed and may restrict their value or adjust the valuation used for lending.
What if completion is delayed?
Your adviser can check whether the lender may extend or reassess the offer. A new credit, income or affordability assessment may be required.
YOUR SMART MORTGAGES CONTACT
Discuss your plans with the right adviser.
Joel, John, Sammi, Julie or Cheryl can help, matched to your location.