Turning home ownership into a reality

Buying a new home is exciting enough, but buying a new build home is extra exciting. The new paint smell, those modern sleek amenities,stylish designs that put you at the pinnacle of the housing market.

Not only that, but there are usually loads of incentives on offer for new build properties, dependent on when you reserve your new home. Builders tend to have two peak periods of the year, half year end and year end these vary from builder to builder but generally this is the time that they declare to their shareholders how successful or unsuccessful they have been over the last few months. We have worked in the new build arena for a few years now and have seen some ups and downs over this period.

However, if you hit it right, there are some fantastic deals to be had. Usually incentives offered by a builder are broken down into two parts cash incentives and non-cash incentives. Now from a lending point of view it is important to ensure the incentives are disclosed properly to the lender and valuer at mortgage application stage, as failure to do so could in fact mean that your mortgage application could be declined and you’re back to square one. In the new build mortgage market, a builder would usually want you to exchange contracts within 28 days and if you’re back to square one you’re already putting the purchase at risk. This is why it is so important that you speak to one of our new build specialist mortgage brokers who will help and guide you through the home buying process.

New Build

New build specific schemes include: the governmenthelp to buy scheme, part exchange, and loads of different shared equity schemes or shared ownership, that can help you buy a bigger home than you might have thought possible. Most lenders these days will lend on a new build home but not all will allow you to use a specific new build scheme. Each lender will also have a maximum loan to value (LTV) that they will allow against a new build home. Some insist on a 5% deposit some 10% and some 15% or 20%. So, it is very soon apparent that mistakes can be made when choosing the right lender if you were to do this yourself. That’s why it is a very good idea to use independent mortgage brokers to advise you on the most appropriate mortgage deal for you and your circumstances.
Furthermore, we’ll act as a middle man with surveyors,builders’ solicitors and estate agents on your behalf, and even complete all the paperwork for you, to ensure your new build purchase goes smoothly from start to finish.

Builders that we are currently work with include, Barratt Homes, David WilsonHomes, Redrow Homes, Cyden Homes, Harron Homes, Gleeson Homes, Keepmoat Homes, Bellway Homes to list but a few. Choosing the right home for you and your family is very important as you want everything to be just perfect. However, choosing the right independent mortgage broker to help you achieve your new build home purchase is even more important. Why not make the right choice and call independent mortgage brokers today

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments

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