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Why Choose Us
Purchasing a new-build property can be an exciting venture, offering you the chance to be the very first occupant of a brand-new home. However, securing a mortgage for a new build comes with its own set of considerations. Let’s explore what you need to know.
A new-build property is a home that has been newly constructed and has never been lived in before. These properties can be bought directly from a developer. New-build homes are often seen as appealing because they typically come with modern features, energy-efficient designs, and lower maintenance costs.
There are several advantages to buying a new-build property:
While there are many benefits, there are also some drawbacks to consider:
Lenders tend to be more cautious when it comes to offering new build mortgages. This is due to the perceived higher risk associated with the depreciation of new properties. Some key points include:
Based on a mortgage of £300,000 at 75% LTV and 25 years Today’s best buy mortgages
Latest mortgage best buys
See all mortgage best buysSpeak with Us Interest Rate Mortgage Type Monthly Repayment Amount Total Fees Max LTV 3.79% Fixed £1,174 £30 75% 4.09% Fixed £1,198 £0 75% 4.12% Fixed £1,210 £1,499 75% 4.24% Fixed £1,224 £1,025 75%
There are several government schemes available to help you purchase a new build:
Get things moving, apply for a remortgage.
Free unbiased mortgage advice is just a phone call away.
The timeline can vary, but typically it takes around 4-6 weeks to secure a new build house mortgage. This depends on factors such as the lender’s processing time, the need for a property valuation, and whether you’re buying off-plan.
A mortgage agreement in principle (AIP) is a statement from a lender indicating how much they might be willing to lend you, based on your financial circumstances. It’s not a guarantee but can be helpful when making an offer on a new build property.
Yes, lenders will typically require you to have buildings insurance in place as a condition of your mortgage. This insurance protects against risks such as fire, flood, and other potential damages.
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Legal
Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT
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