New Build Mortgages

Our New Build Mortgages

Why choose us for your new build mortgage

Fair Mortgages can provide you with a first class mortgage service for your new build.

Special features of what we offer include:

• One of only 20 advisers in the UK to have a strategic partnership with Legal and General New Build Initiative

• Extended Lender panel with exclusive products

• Tailored Offering - 28 day exchange plus minimum offer period of 6 months

• New build products with extended dates (up to 9 month completions)

• Day 1 valuations

• Builder incentives accepted up to 5%

• New build flats now up to 90% LTV

• We have lenders who will consider properties subject to section 106/75

• We have access to lenders who will finance for IVA/DMP/Bankrupt clients

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support".

As your mortgage is such an important transaction, good advice is imperative.

If you want to buy a new build property, there are a variety of options on the market, including Government-backed schemes such as NewBuy, which offers high loan-to-value (LTV) mortgages requiring a low deposit to those looking to purchase a newly built house.

This scheme is designed to assist first time buyers and those who would otherwise struggle to raise a deposit. The scheme is also intended to stimulate the construction industry by encouraging the building of new homes.

To investigate your options for new build mortgage finance call our specialist team on 0117 403 4474 or fill in our call back form. 

What are the advantages of buying a newly built home?

There are several reasons why people choose to take out a mortgage on a new build home, including:

• More accessible - It can sometimes be easier to get mortgage finance on a new build property due to the influence of schemes such as NewBuy, which have forged links between property developers, mortgage lenders, and the Government. This could help buyers to get a higher LTV mortgage than might be available on an older property.

• Lower deposit – It may be possible to get a new build mortgage with a deposit as low as 5%.

• Good condition – Buying a newly built house means that you shouldn’t need to finance expensive renovation or redecoration when you move in. New homes also tend to have higher standards of insulation and eco-efficiency than older properties, which could save you money on energy bills.

Choosing a new build mortgage

If you are thinking of getting a mortgage on a newly built property, you may want to consider the NewBuy scheme.

This is a Government initiative, launched in March 2012, which aims to help people in England to buy a newly built home. You may be eligible for the NewBuy scheme provided that you have a deposit of at least 5% - this is a smaller deposit than is normally required to secure a mortgage. New home buyers wishing to take advantage of the scheme will need to qualify for a mortgage with a mortgage lender in the usual way and be subject to the lender’s normal assessment criteria.

If you apply for a mortgage under the NewBuy scheme you will be required to fulfil certain additional criteria specific to this scheme.

To find the best mortgages for new build houses call us today on 0117 403 4474 to get:

• New build mortgage quotes from leading UK lenders

• Expert new build mortgage advice from our experienced qualified mortgage team

• New-Build mortgage rates not available on the high street

• Relationships with 3 national conveyancing networks to help ensure the legal work is done professionally and promptly

• A whole market protection offer. We can advise on protection options to ensure that your mortgage is protected.

• Dedicated case manager who will be allocated to you to ensure all the administration of your mortgage is taken off your shoulders