Mortgages built around the build programme

New build mortgages work the same way as any purchase, but lenders apply stricter valuations. A new build can be valued slightly below the purchase price — particularly in the first few years — which affects your loan-to-value and the deposit you need.

We know which lenders value new builds fairly and which tend to downvalue. Where a valuation does come in low, we can challenge it or move the application to a more new-build-friendly lender without losing your rate lock.

Because we're new build specialists, we'll talk you through the likely valuation before you commit, so there are no surprises once you've paid your reservation fee.

Most new builds are reserved off-plan, completing six to twelve months later. We time your Agreement in Principle so it's valid when the property is ready, and submit the full application to land just before handover.

If rates move between reservation and completion, we review the market closer to the date and can re-lock a better deal — you're never stuck with the rate that was available when you reserved.

For longer build programmes we'll set a review schedule so your mortgage tracks the build, not the other way round.

Developers often offer incentives — deposit contributions, stamp duty paid, free upgrades — that can make a new build excellent value. But some lenders restrict how much incentive they'll accept, and an incentive that looks generous can jeopardise the mortgage if it pushes you over the lender's cap.

Before you commit, we check which lenders accept the developer's full incentive package, so your savings stay intact and your mortgage isn't downgraded.

We'll also flag any incentive that has to be repaid if you sell early, so you understand the strings as well as the savings.

Not every lender likes new build. High-rise apartments, leasehold houses, cladding EWS1 forms and affordable-housing quotas on a development can all rule out lenders who'd otherwise offer you a good rate.

We maintain a working list of new-build-friendly lenders and their current criteria, so we route your application to one that will actually lend on your development — not one that will decline it three weeks in.

That includes the 100% schemes from Gable and April, which are available on selected new builds for qualifying first-time buyers.