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New Build mortgages

Kitchen within a new build house

Saving for a deposit can be the hardest part of buying a house. So, we offer mortgages to help people with low deposits to purchase a new build. This could also provide an alternate option for those who might not be eligible for some of the affordable home ownership schemes that are currently available on the market.

You could lose your home if you don’t keep up your mortgage repayments.

Loan to value (LTV) explained

This is the value of your loan as a proportion of your property's value. For example, if you were purchasing a home for £100,000, and had a deposit of £15,000 then you would need to borrow £85,000. This would mean that you would require a mortgage product that offered an LTV of at least 85%.

A choice of low-deposit mortgages

Our range includes mortgages that require from as little as 5% of the property value for a deposit. However, the maximum LTV on our new build mortgages varies depending on whether you're buying a house or a flat.

  • For new build houses, we offer up to 95% LTV mortgages, which require a minimum of 5% deposit.
  • For new build flats, we offer up to 90% LTV mortgages, which require a minimum of 10% deposit.

We also offer up to 95% LTV mortgages for Shared Ownership and First Homes England scheme properties. You can find out more about these and whether you might be eligible for the scheme on our Shared Ownership and First Homes England pages.

How we could help you

If you’re buying a new build house or flat with at least a 10% deposit or more – then select below to use our mortgage finder tool which will show you a selection of our latest mortgage products which could be right for you. All you need to do is answer a few simple questions, then leave the mortgage finder to do all the leg work for you!

Find a mortgage

If you’re looking to purchase a new build house with a deposit of less than 10%, have any questions or if you would like to arrange an appointment with a mortgage adviser, give us a call on 0345 607 9825.

The benefits of new-build properties

Our underwriters respond quickly to mortgage applications on new-builds, so normally you won't have to wait more than 48-hours to get an initial underwrite assessment. The offer period on mortgage applications for new-builds can be extended from nine to 12 months, subject to meeting our lending criteria.

But that’s not all. According to government data, new builds tend to have better energy efficiency ratings than older properties, which usually means lower running costs for you and the property will have a lower carbon footprint. So helping more people buy these types of properties also helps towards our target to become a greener Society.

You could lose your home if you don’t keep up your mortgage repayments.
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