Mortgages for new-build houses

Key points

  • When obtaining a mortgage that is new-build’ll want to consider timing – are you able to get home financing offer over time when it comes to builder’s due dates and certainly will your home be finished before your home loan offer expires?
  • There could be incentive discounts on offer for brand new builds, that could add re payments of stamp costs or furniture packages – but be cautious that these incentives don’t impact the loan to value (LTV) in your home loan
  • You could find you will want to save yourself a larger deposit for the home that is new-build some loan providers have additional limitations on particular forms of new-builds

New-build properties could be attractive, simply because they appear to provide more structural safety than a mature household and so are developed to be much more energy conserving.

In addition to this, older houses might have high priced pre-existing issues that require repairing, like moist or subsidence.

Nevertheless, getting a home loan for a new-build property can be somewhat tricky, particularly if youare looking buying a flat in the place of a residence. Continue reading