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New Builds

Kitchen within a new build house

Have you found the perfect New Build, but struggling to save up for a significant deposit? Check out our low deposit mortgages and see if we could help you onto the property ladder.

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

  • We have a range of mortgages that are suitable for both New Build houses and flats, which require a minimum of 5% 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.
  • If you're buying a New Build house and have been renting for 12 months in a row in the last 18 months, you may be eligible for our Track Record mortgage, which allows deposits of less than 5%, or even no deposit at all. You'll need to be at least 21 years old and can't have owned a property in the last 3 years to qualify. Our Track Record mortgage can't be used to buy a New Build flat. For full eligibility criteria visit our Track Record page.

All our mortgages are subject to underwriting and lending criteria.

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 or flat 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. For New Build purchases, the amount of time the offer is valid for can be extended from 9 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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