Mortgages for new builds
At My Mortgage Planner, we don’t just find mortgage deals – we help make buying dreams a reality. We’re making moving easy with free financial advice and mortgage brokerage from our friendly team of industry experts.
We understand that when it comes to new build mortgages, one size doesn’t fit all. That’s why we offer tailored financing options that incorporate your new build incentives and align with government schemes. With access to the whole of the market, we ensure you find the best possible deal tailored to your needs. Our simplicity guarantee means you’ll also enjoy a straightforward, jargon-free experience from start to finish.
People are at the heart of everything we do. If you’re looking for a local broker that genuinely cares about you and your journey, you’re in the right place.
First Time Buyer
Forget overwhelming deal searches and endless stress. Your journey to homeownership is safe in our hands. Get excited for move-in day while we handle the complexities – from lender liaising to paperwork.
Self Employed
Being your own boss shouldn’t hinder your home-ownership dreams. Let our self-employed mortgage specialists guide you through the checks and balances – unlocking the best deal for your needs.
Shared Ownership
Ready to buy a house but struggling to save a deposit? Why not purchase a share of your home and rent the rest? Perfect for first-time buyers, shared ownership is here to help you get on the property ladder fast.
Your Mortgage Journey
Ready to get started? Your property plans begin here. Dive into your mortgage journey step-by-step, from start to finish:
01
Get in Touch
Start by sharing your details in our contact form. Or, if you prefer a chat, call us for obligation-free advice tailored to your mortgage needs.
02
Free Consultation
Join us for a no-cost consultation session either in person or over the phone. Every question, big or small, is a step closer to your mortgage and protection goals.
03
Select a Service
Choose the service that fits your life best, and we’ll handle the setup. If you’re unsure, don’t worry – our advice comes at no extra cost.
04
Unlock your Deal
Unlock the market’s best deals with ease. You can trust our brokers to tackle negotiations and paperwork, sealing terms on your behalf.
Our New Build Team
You’re in great hands. Get to know the dedicated brokers and advisers at My Mortgage Planner.
Founder and Director
Mortgage and Protection Adviser
Mortgage Administrator
Get a Free New Build Mortgage Consultation
Let’s talk all things new build mortgages. Whether you don’t know where to begin, or need assistance with a complex application, our team is here to find the best deal for you. Reach out to us using the contact form below for a free quote.
New Build Mortgage FAQs
What types of new build mortgages are available?
There are various new build mortgage options, including fixed-rate mortgages, where the interest rate remains the same for a set period, and variable-rate mortgages, where the rate can change with market conditions. Government schemes like Help to Buy mortgages assist buyers with smaller deposits, and shared ownership allows for part-buy, part-rent arrangements.
What is a new build mortgage?
A new build mortgage is a home loan designed specifically for newly constructed properties or those still under construction. These mortgages often include unique conditions and incentives to help support the purchase of new homes.
How does a new build mortgage differ from a standard mortgage?
New build mortgages can have different criteria and considerations. For example, lenders might offer lower loan-to-value (LTV) ratios for new builds, which means you may need a larger deposit. The valuation process for new builds can also differ, and developers might offer incentives such as covering stamp duty or including extra features in the property price.
What deposit will I need for a new build mortgage?
For new builds, lenders often require a higher deposit, typically around 10-15% of the property’s value, compared to 5-10% for existing properties.
What should I consider when choosing a lender for a new build mortgage?
When choosing a lender for a new build mortgage, consider their experience with new builds, the interest rates they offer (fixed or variable), any fees and charges, and the flexibility of their mortgage terms, such as payment holidays or overpayment options.
How does the mortgage application process work for new builds?
The new build purchasing process usually involves getting an agreement in principle from a lender to determine how much you can borrow, paying a reservation fee to secure the property, submitting a full application with detailed information, having the lender conduct a valuation and survey, receiving a formal mortgage offer if approved, and finally, exchanging contracts with the developer and completing the purchase.
What if the construction of the new build is delayed?
If the construction is delayed, it could affect your mortgage offer since offers are typically valid for a set period, like six months. You may need to reapply or request an extension from the lender.
Can I use my own solicitor or conveyancer for a new build mortgage?
Yes, you can use your own solicitor or conveyancer for a new build mortgage, but it’s advisable to choose someone experienced with new build transactions to ensure everything goes smoothly.
