New Builds Mortgages
With a new build you often need the mortgage arranged before the keys even exist. Completion dates can slip, lenders frequently cap the loan-to-value, and the incentives on offer from the developer can change how much you are able to borrow.
Why new builds?
A new build mortgage does not behave quite like one on an older home. Completion might still be months off, developers tend to add incentives to the deal, and the deposit and valuation rules shift from one lender to the next. That is why it helps to start planning early. Our [stamp duty calculator](/calculators/stamp-duty) shows the tax you might owe on a new build purchase.
Most lenders keep a separate set of rules for new builds. The maximum loan-to-value they will lend (the size of your mortgage set against the property price) is often lower than it would be on an older home, and they will expect the property to carry an approved developer’s warranty. A few also pull back from certain new builds altogether, such as high-rise flats or homes reserved off-plan before the building is finished.
Our advisers at Clearview Mortgage Solutions deal with new build cases week in, week out. We stay in touch with both your developer and your lender so the mortgage is ready when completion arrives, and we react quickly if the date moves.
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Your next moves.
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Estimate your monthly cost and how much you could borrow with our new builds calculator.
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Read the guides.
Explainers covering deposits, schemes, the application, and what lenders actually look for.
Guides about New Builds mortgages
A guide to new build mortgages
What buying a new build home actually involves, covering mortgage requirements, deposits, completion timelines and snagging.
ReadDeveloper incentives explained
How developer contributions, gifted deposits and upgrade packages work, and the way each one can affect your mortgage.
ReadNew build vs resale properties
How the mortgage process, the costs and the day-to-day practicalities compare when you buy new against buying an existing home.
Read
Frequently asked.
That depends on what you are buying. For a new build house, many lenders are happy with a 10% deposit, much the same as a resale home. For a new build flat, some ask for 15–25% because they see more risk. A broker can track down the lenders offering the friendliest deposit terms for your particular new build.
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new builds mortgages have their own quirks. Our CeMAP-qualified advisers compare 90+ UK lenders and explain how each one applies to you — no obligation.
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