Providing expert mortgage advice for over 25 years.

  1. Home
  2. Mortgages
  3. New Builds

New Build Homes

Are you dreaming of buying a new build home? Do you want to enjoy the benefits of modern design, energy efficiency, and customisation?

If so, you are in the right place, we are the UK’s mortgage experts, specialising in Newbuild mortgages.

row of new build houses on an estate

Partnering with home builders across the UK

What is a New Build Mortgage?

A new build mortgage is a loan that you take out to buy a newly built property, either from a developer or a self-build project. It can be either a repayment mortgage or an interest-only mortgage. The type of mortgage you choose will depend on your circumstances and preferences.

How Does a New Build Mortgage Work?

A new build mortgage works similarly to a regular mortgage, but there are some key differences to be aware of:

The deposit size

You need to put down some money upfront to buy your property. The larger deposit you have, the less you need to borrow from the lender. This affects your mortgage eligibility, interest rate, and monthly payments.

For new build properties, lenders may ask for a larger deposit than for existing homes. A typical deposit size for a new build property is 15% to 20% of the property value. However, we have access to lenders who offer mortgages with as little as 5% deposit. 

The valuation

The lender needs to check the value of the property before they lend you money. They do this by hiring an independent surveyor who inspects the property and gives an estimate of its worth. For new build properties, lenders may use different methods of valuation than for existing homes.

The exchange and completion

You sign and exchange contracts with the seller and pay them the agreed amount of money. For new build properties, there may be a longer gap between exchange and completion than for existing homes, as you may have to wait for the property to be finished and inspected before you can move in.

The mortgage offer

The lender gives you a formal document that confirms that they have agreed to lend you money under certain terms and conditions. The mortgage offer has an expiry date, which means that you have to complete your purchase before it runs out.

A typical expiry date for a new build mortgage offer is 6 months from the date of application. However, some lenders may offer longer expiry dates or extensions for new build mortgages. We will work with the developer and yourself, to ensure your mortgage offer is valid for the anticipated mortgage date.

What are the Benefits of Buying a New Build Home?

Buying a new build home can offer many benefits over buying an existing home, such as:


You can choose the type of home, specification of fittings, material colours, flooring, furnishings, and optional upgrades that suit your taste and preferences. You can also personalise your home with individual features and make it truly yours.


You can benefit from the high standards of quality and safety that new home developers have to meet. You can also enjoy the peace of mind that comes with a 10-year warranty from the National House Building Council (NHBC) or other similar organisations that protect you from any structural defects or faults in your new home.


You can save money and energy with a new build home that is designed to be more environmentally friendly and efficient than older homes. You can expect lower heating bills, better insulation, double glazing, circuit breakers, and modern appliances that reduce your carbon footprint and impact on the environment.


You can take advantage of various incentives that are available for buyers of new homes. These vary from each house builder. We will use our experience to ensure that the incentives are acceptable to the lender and most beneficial to you.