New Build Mortgages: Expert Guidance Every Step of the Way
Buying a new build home is an exciting step—especially for first-time buyers looking to get onto the property ladder. While the process can be a bit more complex than purchasing an older property, having an experienced mortgage broker by your side makes all the difference.
At Artofmortgage, we specialise in helping buyers secure mortgages for new build homes. Whether you’re purchasing a flat or house, we handle the details with mortgage providers, developers, and all relevant bodies to make the journey smoother and less stressful.
We’re completely independent and only work with lenders that are fully regulated by the Financial Conduct Authority, so you can trust that your interests always come first.
Understanding New Build Mortgage Requirements
For new build properties, the minimum deposit is typically 5% of the purchase price. However, lenders may ask for a larger deposit—especially for new build flats, which are often viewed as higher risk. The loan-to-value (LTV) ratio plays a big role here. The lower the LTV (i.e. the more deposit you provide), the better the mortgage deals you’ll likely be offered.
Because new build homes may take months to complete, mortgage offers usually come with extended validity—often 9 to 12 months, compared to the standard 6. This gives you more breathing room to reach completion without the pressure of your offer expiring too soon.
Support for First-Time Buyers and Professionals
First-time buyers can benefit from various government-backed schemes that reduce upfront costs and make it easier to qualify. Depending on eligibility, we’ll guide you through:
- Help-to-Buy Equity Loans
- Shared Ownership
- The Deposit Unlock Scheme — allows buyers to purchase a new build home with just a 5% deposit, with builders and lenders working together to reduce risk.
Some lenders also offer special mortgage products for professionals such as doctors, solicitors, and accountants. These recognize stable career paths and strong future earning potential—often allowing for enhanced borrowing.
The Buying Timeline and What to Expect
Once you reserve your new build property and pay the reservation fee, you can begin the mortgage application process. But be prepared—developers may request exchange of contracts within 28 days. This tight timeline makes it even more important to have a mortgage expert in your corner, moving things along quickly and accurately.
Keep in mind: developers sometimes offer incentives such as covering your stamp duty or providing cashback. While helpful, these offers may impact how a lender values the property or structures your mortgage. We’ll help you navigate these points to avoid surprises.
Is a New Build Mortgage Harder to Get?
Not necessarily, but it can involve more steps. New build homes are usually valued slightly higher before anyone moves in, and that initial “newness” may diminish quickly. That’s why lenders are a bit more cautious and may require bigger deposits or additional checks. We’ll help you understand what’s realistic and how to present your strongest application.
Ready to Get Started?
Buying a new build home doesn’t have to be complicated. With our guidance, you’ll have clarity on your options, confidence in your mortgage, and support through every stage of the journey. Reach out to speak with one of our advisers — we’re here to help make your next move a smart one.
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Art of Mortgage is a trading style of Art of Mortgage co ltd. who is an Appointed Representative of Ingard Financial Limited which is authorised and regulated by the Financial Conduct Authority 450731. The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.