New Build Mortgages

A new home, with a different timetable

Buying a newly built home can mean making decisions while construction is still under way. There may be a reservation deadline, a proposed exchange date and an estimated completion date that changes as work progresses.

An early mortgage conversation helps establish your budget and identify the information a lender may need. Share the developer's timetable before committing to dates so the financial and legal steps can be considered together.

The property is part of the lending decision

Lenders can apply different criteria to new-build houses and flats, including deposit requirements and acceptable construction or warranty arrangements. A development being marketed as mortgage-ready does not mean every lender will accept every property on it.

Your solicitor will review the legal position, including relevant lease terms or estate charges. We help establish which mortgage criteria may fit the home you are buying and explain any questions that need to be resolved.

Be clear about incentives

A developer may offer help with costs, a deposit contribution or upgrades. Tell your adviser and solicitor about the full package, because incentives can affect a lender's assessment and may need to be formally disclosed.

We compare the mortgage options using the complete purchase details. Avoid relying on an advertised incentive until the parties involved have confirmed how it is treated.

Keep the offer and build dates aligned

Mortgage offers have an expiry date. If construction is delayed, an extension or a fresh application may be needed, depending on the lender. Further checks or different terms can apply, so an extension should never be assumed.

Keeping your adviser informed about progress gives time to review the position. Let us know about changes to the expected completion date, purchase price, incentives or your own finances.

Useful details to bring

• The reservation agreement, plot details and purchase price
• Expected exchange and completion dates
• A full breakdown of developer incentives
• Property type, tenure and available warranty information
• Your deposit evidence, income documents and existing commitments

We help prepare the application and work through lender queries, giving you a clearer view of what needs to happen before completion.