New Build Properties

We’re committed to supporting the new build market.

So, if your client’s property

  • has not been built yet
  • is purchased off-plan
  • is in the course of construction, including properties that that have previously had a commercial use e.g. an office block and are being converted to residential; or
  • has been built but has not been lived in

We’re keen to help.

We’re offering 

  • loan to value (LTV) up to 95% for houses and 90% for flats
  • an 8 month offer period with an 8 month extension if the build is delayed.

Financial incentives and support accepted*

Builders incentives

We know that some builders offer a range of incentives. So that your client can get the full benefit, we don’t put a maximum % limit on them.

We accept:

  • payment of stamp duty
  • legal fees
  • cashback or mortgage subsidies
  • vendor gifted deposits provided by developers

as long as they are fully disclosed, taken into account by the surveyor at valuation and are on the UK Finance Disclosures Form.

If your client receives a builder’s gifted deposit, they will need to put down a minimum of 5% deposit from their own funds.

We also no longer net off incentives from the purchase price to help buyers with affordability. This reduces the deposit required to secure the property. 


Family gifted deposits

As long as it is documented that no repayment of the gift is expected and that the family member gifting the deposit has no legal interest in the property, we’ll accept family gifted deposits.

Help to Buy Wales

We’ll also accept applications from clients who are supported by Help to Buy Wales .

Help to Buy – Wales is an equity loan from the Welsh Government that you put towards the cost of buying a newly built home. It aims to provide support to people, who would not be able to get onto the property ladder without the support of the scheme.

Visit Help to Buy Wales for more information.

Flexible mortgage solutions

We accept new build applications from up to 4 applicants using all 4 incomes, non-EEA Foreign Nationals and those who need financial support from the family using our joint borrower sole proprietor solution.

New build guarantee schemes

As part of your application, we’ll accept a number of new build guarantee schemes:

  • NHBC
  • Building Life Plans
  • LABC New Home Warranty
  • Castle 10
  • Zurich Municipal
  • HAPM (Housing Association Property Mutual)
  • Premier Guarantee
  • Build-Zone structural warranty
  • Architects certificates are acceptable subject to valuation and a maximum LTV of 90%

For the full list of new build warranty providers visit the UK Finance Mortgage Lenders' Handbook.

* Subject to lending criteria

Case Study

Discover how, thanks to our flexible approach, Lucy & Dan purchased their first home and secured their dream new build home.

GIF describing how Lucy and Dan purchased their first home with the help of Principality

Contact Our New Build BDM

Niki Willacott

07870 982196

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