New Home Mortgage
There’s nothing quite like the moving into a home that’s never been lived in before, the smell of fresh carpets and gleaming walls. Although the layout of new homes is pre-determined you do get the buzz of designing the interiors – often right down to the style of door handles.
Buying a new home often comes with its own stresses and strains, and it not unusual for the house builder to expect you to exchange contracts and place down your deposit within 28 days of agreeing to purchase it. In many cases the house has not even been built yet. This is called buying ‘Off Plan’ whereby you will only be able to view the proposed new home through brochures and virtual tours. There is often a show home to give you some idea of the finished design.
Mortgage Advice Centre – New Build Mortgage Experts
Our advisors have been fully trained in new build mortgages and have a wealth of experience in collaborating with some of the UK’s largest house builders. As part of the Just Mortgages Network and Openwork, we have been able to advise on exclusive mortgage deals designed especially for our New Build customers.
Typically an offer of mortgage lasts between 3 and 6 months before it is withdrawn. As many New Build properties are purchased ‘Off Plan’, it is common for New Builds to overrun and exceed the offer expiry for many lenders. At Mortgage Advice Centre, we have access to lenders whose mortgage offers will last for at least 6 months with a view to extend. This will give you piece of mind that your mortgage is still valid even when your new build is delayed.
Access To Exclusive Deals And Lending Arrangements – Mortgage Advice Centre’s Boost!
Through our links with Just Mortgages Direct we are also part of an exclusive New Build Panel of advisors that may be able to access lending with smaller deposits from one the UK biggest banks.
New Build mortgage lending rules will differ from normal mortgages. On second hand homes, there are thousands of mortgage deals available with small deposits; however this is not always true for new build properties. As an example, new build flats normally require at least a 20% deposit and often more. However, through our links with Just Mortgages Direct we are also part of an exclusive New Build Panel of advisors that may be able to access lending with 10% deposit on new flats from one of the UK biggest banks.
To find out how, speak to one of our friendly new build mortgage specialists today. You can book a face to face appointment straight away. Call on 01378 808 200 or complete the contact request form.