What is a New Build mortgage?
New build properties tend to attract buyers because they come with additional warranties, such as the NHBC 10-year certificate, which safeguards against significant construction defects.
Additionally, buyers can select their own fixtures and finishes, including carpets, tiles, and designs for kitchens and bathrooms. Moreover, new homes are generally more energy-efficient than older properties, which can lead to savings on gas and electricity bills.
Additionally, buyers can select their own fixtures and finishes, including carpets, tiles, and designs for kitchens and bathrooms. Moreover, new homes are generally more energy-efficient than older properties, which can lead to savings on gas and electricity bills.
How do I secure a New Build mortgage?
Before considering buying a new build property, it is essential to speak with a mortgage broker like Shaw-Smyth. We can help you determine how much you can borrow, what the expenses will be, and also look into whether you qualify for home-buying programs such as shared ownership.
It is crucial for lenders to be aware that you are purchasing a new build, as you may need a mortgage that allows for a longer gap between the exchange and completion. Otherwise, there is a risk that your mortgage offer could expire before your new home is ready, requiring you to reapply for a mortgage.
It is crucial for lenders to be aware that you are purchasing a new build, as you may need a mortgage that allows for a longer gap between the exchange and completion. Otherwise, there is a risk that your mortgage offer could expire before your new home is ready, requiring you to reapply for a mortgage.
- Zero Credit History
- Bad Credit History
- Fixed Rate Mortgages
- First Time Buyer Schemes
- NHBC 10-year certification
