Mortgage lender criteria can be complex for new build properties, but there's no need to worry. Our mortgage advisers have years of experience in navigating these details. Lenders often have specific rules for resale and new build properties; our advisers understand these completely. Choosing a new build specialist mortgage broker brings added advantages, such as access to dedicated underwriting teams, exclusive products, and even lenders not available through non-specialist brokers— all available through the Quilter Financial Planning Network.
New build mortgage specialists
Finding the most suitable mortgage for a new build property comes with its own set of challenges, especially if you are purchasing off-plan. Our team of new build mortgage brokers has extensive experience in securing mortgages for new build homes, ensuring a more efficient process.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Call today to learn more about our specialised new build mortgage solutions.
Get in touch
Get in touch
Panel of lenders
Access to 90+ lenders
As a leading UK new build mortgage adviser, we have over a decade of experience helping buyers nationwide. Our expertise allows us to handle the complexities of tight deadlines, developer schemes, and lender requirements with ease. As an Appointed Representative of Quilter Financial Planning Limited, we offer access to:
- 90+ lenders
- Thousands of mortgage products, including exclusive deals unavailable on the high street
- Specialist underwriting teams regularly help clients looking for a mortgage for new build property
With our support, you can secure the most suitable mortgage while minimising stress and paperwork.
- Call: 0115 870 9520
- Email: [email protected]
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Specialist new build mortgage solutions
New build properties often require tailored mortgage solutions. Our team provides:
- Accelerated lender support. Faster mortgage approvals through our direct connections.
- Exclusive mortgage products. Access to deals that aren’t available to the general public.
- Expertise and guidance. Support through every step, from application to completion.
Our team can also help you access the Own New Rate Reducer scheme. -
Tailored new build mortgage solutions
We make sure your mortgage is not only aligned with your financial goals but also maximises any available housebuilder incentives and government schemes. Our new build mortgage advisers work diligently to secure the most cost-effective deal for your circumstances.
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Continuous and ongoing support
Buying a home can be time-consuming, and even more so with a new build. Our Nottingham-based team is available seven days a week to answer your questions and guide you through the process.
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One-stop mortgage shop
We also offer a full range of financial services, including:
- Home and contents insurance
- Personal protection insurance
- Mortgage affordability assessments
Many of our clients find it convenient to manage all their financial needs under one roof.
Informing your decisions
Our team stays up to date with the latest developments across the mortgage and wider financial industry. This means we can offer you up-to-date and accurate information.
Understanding your deposit requirements
Minimum deposit for new build mortgages
Your ideal deposit varies based on several factors. While 5% of the purchase price is a common starting point, lenders consider diverse criteria like credit history and property type. The ever-evolving mortgage market even offers no-deposit options for some buyers. Our team can guide you towards the right solution, no matter your deposit size. Speak to one of our friendly experts who will give you a personalised assessment unique to you.
New build mortgage interest
The importance of comparison
We're a Whole of Market mortgage broker, with access to 90+ banks and building societies with 1000s of mortgage options. Our expertise shines in understanding criteria for new builds, government schemes and meeting deadlines. Our seasoned mortgage advisers, backed by advanced technology, are your ultimate resource for securing a mortgage that aligns perfectly with your goals and transforms homeownership into a reality.
Securing a timely mortgage
Reserving a new build mortgage
Confused about when to apply for your new build mortgage? Relax, we'll guide you step by step. Start by becoming financially qualified with us – confirming affordability and securing a Decision in Principle (DIP). Once qualified, reserve your chosen property and we'll assist with gathering documents. Our mortgage advisers will match you to a mortgage that suits your personal circumstances and our Case Management team will ensure a smooth process until completion day. We're here to help and our service is completely fee-free advice!
Trusted, reputable and credible
The importance of working with an experienced team
With over 500+ Google reviews and more than £87 billion in loan applications submitted, we have built a reputation for delivering outstanding service. As part of the Quilter Financial Planning network, we can access exclusive mortgage products to help secure the most suitable deal for you - without charging fees.
- Call: 0115 870 9520
- Email: [email protected]
FAQs
Q
Is it hard to get a new build mortgage?
A
Q
Can you get a mortgage before the property is built?
A
Yes, you can apply for a mortgage on an off-plan property with most banks and building societies. However, our advisers will consider key factors such as the expected completion date and the validity of mortgage offers, which typically last 6 months. Developers often provide a typical completion window of 3 months which is usually around 4-6 months in the future, so you’ll need a mortgage offer that accommodates this and any potential build delays. Despite the complexity, our expert advisers are well-equipped to guide you through this process.
Q
When do you start paying the mortgage on a new build?
A
Typically, your initial mortgage payment occurs roughly two weeks after legal completion. The specific date depends on the lender and direct debit setup time. This first payment covers interest for the days between completion and month-end, plus the entire next month. Completing near month-end results in a smaller initial payment compared to an early-month completion. It's advisable to budget for a double mortgage payment for the first month as a precaution; a topic our advisers will discuss with you.
Q
How do new build mortgage rates compare to standard mortgages?
A
New build mortgage rates can sometimes be higher than standard mortgage rates due to lender risk assessments. However, developer incentives, government schemes, and exclusive deals, through our membership of Quilter Financial Planning, from our new build mortgage brokers can help secure a competitive rate.
Q
Can I get a mortgage for a new build property with a small deposit?
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Yes, many lenders offer mortgages for new build homes with as little as a 5% deposit, particularly through schemes like Own New Rate Reducer or the Deposit Unlock scheme. Our new build mortgage advisers can help you find the right options.
Q
Why do some lenders have stricter criteria for new build mortgages?
A
Lenders may have stricter affordability and valuation requirements for mortgages for new build property due to potential price fluctuations and the longer completion times of off-plan purchases. Our new build mortgage brokers work with specialist lenders who understand these challenges.
Q
Do I need a new build mortgage broker to apply for a mortgage?
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While you can apply directly to a lender, using a new build mortgage broker can give you access to exclusive mortgage deals, specialist lender relationships, and professional guidance through the entire process.
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Can I use a Help to Buy or Shared Ownership scheme for a new build?
A
Yes, many government schemes are designed specifically for mortgages for new build property. Our team can help you determine eligibility and secure the most suitable funding option.
Q
What should I consider when choosing a mortgage for a new build?
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Factors include developer deadlines, lender incentives, available new build mortgage rates, and long-term affordability. Our advisers will tailor solutions to suit your financial circumstances.
Q
How long does it take to secure a mortgage for a new build?
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Processing times vary, but our strong lender relationships mean we can often secure new build mortgage approvals faster than standard applications. Early Agreement in Principle (AIP) is recommended to avoid delays.
First-time buyers
Buying your first home? Our first-time buyer mortgage advisers will provide clear explanations and dedicated support throughout the process.
Home movers
Whether you’re upsizing or downsizing, we'll find the most suitable mortgage solution for your needs.
Buy to Let
If you’re investing in property, our advisers can help you find Buy to Let mortgages that align with your financial goals.
Some Buy to Let mortgages are not regulated by the Financial Conduct Authority.
Remortgaging
Looking for a more suitable mortgage deal? Our remortgage brokers will help you explore your options and make the switch.
10,434
of the completed housing units were designated as affordable homes between 1 April and 30 September 2024*.
This marks a 32% increase on the previous year, attributed to the stage of the Affordable Homes Programme.
*Source: https://www.gov.uk/government/news/new-half-year-homes-england-housebuilding-statistics-published
Ama Singh - Mortgage Adviser
“Our team focuses on securing mortgages for our new build customers that not only meet their financial requirements but also promote stability."
- Call: 0115 870 9520
- Email: [email protected]
Case study
Securing a new build mortgage
Client background: Mr and Mrs are foreign nationals who have resided in the UK for just over 2 years and hoped to purchase a new build property with a 10% deposit. Their complex income situation, involving two jobs for each client (including zero-hours contracts) presented unique challenges.
What we did:
- In-depth consultation: We conducted a comprehensive consultation to understand their financial situation and aspirations.
- Specialised expertise: Leveraging our mortgage expertise, we researched lenders who cater to foreign nationals and new build purchases.
- Income assessment: Our advisers carefully reviewed income from both jobs, including zero-hours contracts, to ensure accurate financial representation.
- Deposit assistance: We explored various options and government-backed schemes to address their limited deposit.
To wrap it up: We managed to secure Mr and Mrs a new build mortgage, tailored to their unique needs. We ensured the mortgage aligned with their income, promoting financial stability. Throughout the process, we offered guidance and support, ensuring their confidence in the mortgage terms and conditions. At James Leighton, we are committed to helping clients achieve their homeownership goals, despite any complex situations. This case exemplifies our dedication to finding the right mortgage solutions, regardless of individual circumstances.
We ensured the mortgage aligned with their income, promoting financial stability.
What our customers say
Great job! I am really happy of how quick they have work on my mortgage, Neil was always in touch with me with all the updates. Thank you.
