New Build Mortgages
Award winning broker specialising in new build mortgages, offering free, comprehensive mortgage advice. Available 7-days a week.
Purchasing a New Build Property
Imagine stepping into a brand new home, fresh from the builders ready to be filled with life! That’s the magic of a new build house.
- Modern Living: Everything is brand new and you have often had an input on interior finishes.
- Energy Efficient: Usually new builds are designed much more climate conscious with eco friendly appliances and excellent insulation.
- Financial Options: There are plenty of schemes like the 5% deposit scheme to get you on the property ladder – also known as deposit unlock scheme- and there are some help to buy schemes of which you may be able to take advantage.
Thinking about buying a new build? Understanding the process and the unique financing options available, like equity loans or low deposit schemes, is essential. Speak to our expert team of new build mortgage brokers for how you could buy your dream new build.
How much can I borrow?
Check out how much you could borrow with our free online calculator.
New Build Homes Guide
Learn how to start the process of buying a new build and how this differs from an older property.
First Time Buyer Guide
When you’re buying your first home it’s normal to have loads of questions! Our expert guide has all the answers.
The Buying Process for a New Build
1
Financial Assessment For A New Build Mortgage
Start by evaluating your finances with a mortgage broker, including what LTV (loan to value) you might qualify for on a new build home.
2
Property Search
Ensure the property is part of any financial aid scheme you’re considering.
3
Making an Offer
Upon acceptance, a non-refundable reservation fee is typically required.
4
Legal Proceedings
Engage a solicitor and your mortgage broker to begin legal processes.
Ongoing Support for New Build Homeowners
Now that you’ve settled into the exciting first stage of homeownership, here are some tips for a smooth transition:
Managing Your New Build Mortgage: Stay in touch with your mortgage broker. They can review your deal as market conditions or your needs change.
Settling into Your New Home: It’s very normal to have snags when you move into a new build. Make sure you write a list and send them to your builders to get them fixed.
Be a part of the community: Get to know your new community and neighbours! Building connections can make your new place feel even more like home.
FAQ: New Builds
Is it hard to get a mortgage on a new build?
Getting a new build mortgage should be very similar to any other property. With new build properties there can also be other government schemes like shared ownership, which typically apply to newer properties. If you are unsure whether you can get a mortgage for a new build, get in contact with our team today.
Are new build mortgages cheaper?
Mortgages for older properties and new build properties tend to not vary in cost. The cost will depend on lender interest rates, fees and market conditions at the time of application.
What is the minimum deposit for a new build mortgage?
The minimum deposit for a new build mortgage typically ranges from 5% to 20% of the property’s purchase price. This price should not change depending on if you’re buying a new build or older property.
How much can I borrow for a new build?
The amount you can borrow for a new build property will depend on the lender’s criteria, your credit score, and your income. Lenders typically offer mortgages up to 4.5 times your annual income. Take a look at our borrowing calculator here
How do new build mortgages work?
How does Town & Country Mortgage Services work?
At Town & Country Mortgage Services, we streamline the home-buying experience with our expert guidance, ensuring your journey is in professional hands.
As an award-winning, FCA-registered broker, our free mortgage and protection advice is designed to cater to both first-time buyers and experienced investors. Trust in Town & Country Mortgage Services for a comprehensive and hassle-free home-buying experience.
Free Initial Consultation
We'll discuss your current situation and property aspirations, and assess your borrowing potential to guide you towards suitable mortgage lenders.
Agreement in Principle (AIP)
An AIP is prepared, giving an estimate of your borrowing capacity. With an AIP, you can confidently search for properties within your budget and make offers.
Tailored Mortgage Advice
Once an offer is accepted, we provide specific lender and mortgage product recommendations. We handle all aspects of your mortgage application, ensuring a smooth process.