New Build

For many people, buying a new build property is a great way to get on or move up the housing ladder. 

A brand new home can give you the freedom to make it your own & it should give you fewer structural problems than an old or period home. 

House Construction

What to expect when mortgaging a New Build property

Although building a new build property is a great way to get onto the housing ladder, not all lenders will lend on new build properties, particularly new build flats. Those who do have specific limits on how much you can borrow compared to the property value; this often requires you to have a larger deposit compared to buying a similar re-sale property. 

If you're buying a new build property, it's important to make sure that you can secure the mortgage you need before committing to anything. Developers often require you to exchange contracts within 28 days, or risk loosing your deposit. 

New build properties are often offered with various incentives; builder gifted deposit, legal fees paid, kitchen/bathroom upgrades & even mortgage subsidies. Our expert advisers will be able to advise you which lenders will accept builder's incentives in order that you can obtain the best possible deal. 

For the reasons outlined above, we'd strongly recommend you speak with us before committing to buy a new build property. We can discuss your needs, establish your ability to borrow sufficient funds & secure you an outline Agreement in Principle so you may commit to buy with confidence. 

Over the years, we have developed an excellent working relationship with the new homes industry & now provide specialist advice in relation to new build properties. 

How we can help

Our expert advisers are here to help you understand what mortgages are available for the New Build Property that you're looking to purchase & what the best mortgage deal is for your circumstances. 

Before settling on a property, get in touch with one of our expert advisers to ensure that you can secure a mortgage on the property, their excellent working relationship with the new homes industry & years of experience will ensure that we work towards the best deal for you.  

Call us on 01522 540777 or e-mail mail@whitemortgagesltd.co.uk to discuss your options.