What new build means to us
Here's how we decide if it's a new build or not
- 2 years old
- We class developments as new builds up to 2 years after they were built, converted or first occupied, whichever is later.
- Developer sold
- It's also a new build if it's sold by the builder or developer, regardless of when it was built or converted.
- Non-residential conversions
- Flats converted from a building that had a non-residential use, for example, a former church, office block, shop or factory. The 2 year rule above also applies.
Maximum LTV
Put together the perfect package with up to 95% LTV to play with
House LTVs
Buy-to-let:
80%
Residential:
90%
Shared ownership:
95%
Flat LTVs
Buy-to-let:
75%
Residential:
80%
Shared ownership:
95%
Incentives explained
Figure out the finances with our flexible policy
Up to 5% is fine
On 90% LTV or less, we accept cash incentives up to 5% of the purchase price. This includes cashback deals, guaranteed rental payments, and support with Stamp Duty or professional fees (solicitors and surveyor costs, for example).
Over 5% can work too
Just deduct whatever’s over 5% from the purchase price to calculate the max loan amount.
LTV over 90%
To calculate the max loan amount for over 90% LTV, deduct all cash incentives from the purchase price.
Unlimited non-cash incentives
These are things like white goods, or physical items fixed or fitted to the property. They don’t count towards the 5% and don’t affect the loan amount.
Warranties and offers
Properties built or converted in the last 10 years need a warranty or professional consultant's certificate. To see what's accepted, check the warranties section in our property criteria.
View property criteriaNew build offers are valid for 210 days. You can apply for further 210 day extensions if needed too. Conditions apply.
View offers criteriaGreener Mortgages
Giving customers lower rates for buying energy efficient new builds
If they are buying an A or B energy rated residential new build, they could go for a Greener Mortgage. Rates are lower than our core range and conditions apply.
Own New Rate Reducer
Is your client’s new build developer offering an incentive?
If they have it paid directly to us, they could get a lower rate. Our Own New products offer reduced interest in return for builders' incentives. Conditions apply.