It is vital to get your timing right when it comes to new build properties and related mortgages as it is unlikely that you will be moving in straight away. You need to bear in mind that you will need a mortgage before you exchange contracts. It may be worth starting to plan your mortgage even before you find a property.

The mortgage lender will need to be made aware that it is a new build property as there could be delays between exchanging contracts and completion.  Without doing so, your mortgage offer could expire and the whole process will need to be re-started.

Help to Buy Schemes

You could be eligible for one of the Government’s several help to buy schemes to aid the purchase of your new-build property. More information can be found in our Help to Buy Guide.

Also, it could be possible to purchase a share of the property under a shared ownership scheme – find out more in our shared ownership guide.


There are several positives of buying a new-build property including the following:

  • There is no further chain beyond your purchase i.e. no vendor in the process of an onward purchase
  • You will be protected against defects in the building by the National House Building Council’s 10-year certificate.
  • They are eligible for the Government’s Help to Buy schemes.
  • The majority of new-build properties are energy efficient meaning you could make potential savings on gas and electric bills.


The Process

Initially you may want to speak to us to gather an idea of how much you could borrow and what it may cost to repay the mortgage. You may also want to see if you are eligible for any house-buying schemes.

At this stage, gathering the documents you will need for your mortgage application will save time in the long run.

When you have found a property to buy and have paid the reservation fee to the builder, we will be able to start to search the market for the best deal for you.

Once done, we can submit the full mortgage application to the lender providing we have all of the necessary documents.

A mortgage offer will then be issued once the lender has assessed the application and is happy with the property valuation.

Your conveyancer will then do all of the required legal work  in order to exchange contracts. A completion date will be set once the building work has finished.

Think carefully before securing debt against your home, your home may be repossessed if you do not keep up repayments on your mortgage.