New Build Key Criteria
New Build Information
We’re committed to supporting the New Build market, we know it's important to keep things clear and simple and we understand you need answers quickly and helping your clients buy their New Build home. In response to feedback from our broker partners we’ve made some improvements to our lending criteria to help your New Build business.
Definition of a New Build
We define a New Build as a property not yet constructed, purchased off-plan or in the course of construction or newly constructed where the property has not previously been occupied.
- We lend up to 80% LTV on Residential new build flats and houses in England and Wales*
- We lend up to 75% LTV on Buy-to-Let new build flats and houses in England and Wales*
- Extendable offer period for new build - 6 months initial with 6 month extension
- No mortgage commitment fees or completion fees
- Architects certificate accepted up to 80% LTV
* Subject to lending criteria
- Incentives - Builder's incentives (for example the payment of Stamp duty) are acceptable provided they are fully disclosed, taken into account by the surveyor and are on the CML Discloures Form. No maximum value cap.
- Family gifted deposit accepted*
- Non-EEA Foreign Nationals accepted*
- Up to 4 applicants accepted with all 4 incomes*
- Leasehold Houses and Flats accepted (min 85 years on the lease application)
- Holiday Let accepted at Buy-to-Let rates
- No credit score differential by LTV
*Subject to lending criteria
For full list of acceptable New Build warranty providers please refer to the UK Finance Mortgage Lenders' Handbook.
View our Lending Criteria here
New Build Guide View information from our key criteria to our case packing checklist in our handy guide.
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