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Mortgages for New Build Houses

Best Mortgage Rates

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Mortgages for New Build Houses

    • 3.89% Initial
    • 5 year fixed
    • 5.9% APRC
    • Cashback Max £1,250
      Free Legals
      Free Valuation
    • Get quotes
    • 3.92% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 3.92% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.94% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.97% Initial
    • 5 year fixed
    • 6.5% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.98% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.99% Initial
    • 5 year fixed
    • 6.5% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.00% Initial
    • 5 year fixed
    • 6.8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.00% Initial
    • 5 year fixed
    • 5.9% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.00% Initial
    • 2 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

 Mortgages for New Build Houses

Compare Mortgages for New Build houses

It is good news that there are Government initiatives to help you purchase a new build house. Newbuy was launched in March 2012 to assist people in England with the purchase of a new home.  

A high loan-to-value (LTV) mortgage can be secured through the scheme, which will require a lower deposit than is typical for home purchases.

 

NewBuy: How does it work?

First-time buyers and those who might find it hard to raise a substantial deposit for a house will benefit from the Newbuy scheme.

By spurring on the construction of new homes, the Newbuy scheme aims to boost the British construction industry. A deposit of at least 5% is required to qualify for the NewBuy scheme - a smaller deposit than is usually required to secure a mortgage.

 

Getting mortgages for new build houses

You might want to consider a new build house for the following reasons:

  • Affordability - Schemes such as NewBuy facilitate the connection between property developers and mortgage providers, enabling purchasers to access higher LTV mortgages than they would be able to access if they were buying an older home.

  • With help from schemes such as Newbuy and Help to Buy, it may be possible to get a mortgage on a new build house for as little as 5%.

  • You shouldn't have to budget for renovations or decorating when you move into a new build house because it comes with all the latest features and decorations.

  • New build houses often have high standards of energy efficiency and good insulation, and may also be built with sustainable materials. 


To investigate your finance options call our broker team or fill in our call back form -  speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

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