Mortgages For New Build Property

If you have found a new build property and require a mortgage then we can help. Either as a first time buyer or home mover we can help find you the perfect mortgage deal. Simply use the comparison tools found here or speak with one of our mortgage experts for advice and help finding the right new build mortgage deal.

All Credit Types
Rated 5 / 5

Norton * Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.


Learn more about how we review and assess the providers here on Lending Expert.

Loan Type
All Mortgages (Residential & BTL)

Loan Amount

Variable & Fixed Deals

Loan Term
35 Years Max

Norton are our approved experts. They are a mortgage broker, not a bank, so they can search the wider market place to find you the best products and cheapest rates. Quickly find out how much you can borrow and what it will cost, including rates and fees.

You get more choice of lenders not more rejections. They can help even if you have a bad credit history. And that’s more than any bank on the high street can offer.

Recent mortgage Q&A

What mortgages are available if i want to buy a new build property?

New build mortgages

There are many reasons why you might be considering buying a newly built home. No-one else will have lived there, the home will be brand new and you can put your stamp on it and in some cases you will be able to specify the fixtures and fittings as the house is built. However, as with anything there are always two sides to consider when looking for a suitable mortgage.

How do lenders feel about lending on newly built properties?

You are likely to find that most mortgage lenders will allow you to take out a mortgage on a new house, but you are also likely to find that many lenders will not provide you with a mortgage to buy a newly built flat. Lenders will also generally require a larger deposit on newly built homes than for second hand properties.

Available mortgages

Application fees

Most people buy a newly built home using a standard mortgage, but there is now also the NewBuy mortgage scheme that can assist you in buying a newly built property if you have a 5% deposit. The lenders that are taking part in this scheme are limited and each housing developer often has a link with a specific lender and thus will give you no choice about the mortgage you take out. The NewBuy scheme is open to anyone and works on the basis of providing you with an equity loan in order to boost your deposit to 25% of the property value to reduce the amount of risk the lender takes on providing you the mortgage. However you do need to be aware that although the equity loan is interest free for the first 5 years, it then starts attracting interest, starting at 1.75% in the first year, and then increasing every year after that, so it is best to have a plan to repay at least part of it after 5 years or you could end up with a very large loan debt when it comes to repaying it at the end of your mortgage term.

Things to be aware of

If your home is not yet built then you may find it difficult to apply for a mortgage using just the plans. You will also find that most mortgage lenders will not actually release any money for the purchase until the new property is complete. It is not just the property itself that can affect a mortgage, the state of the roads around the new estate can also cause problems if they are unfinished as this can cause problems in getting your mortgage finalised. You also need to be aware that some new builds require you to pay for it in stages, so as a stage is completed you will then have to make a payment. This can be difficult if you have an existing mortgage in place on your current home. You should also be aware that if you have to sell your new home within a couple of years of buying it, here is the chance that you may possibly be unlikely to sell it for as much as you paid.

Related mortgage articles

We are independently reviewed by our verified customers and web users:
Rating: 4.6 / 5 with 22 votes

Lending Expert is a credit broker, not a lender.

We bring together the very best providers and deals from across the market place.