New Build mortgages
Severnside Mortgage Solutions Ltd can help you find the best possible deal on a new build or self build mortgage. I have years of experience helping clients to finance their new builds.
These days, for many people, buying a new build property is a great way to get on or move up the housing ladder. A brand new home can give you the freedom to make it your own and it should give you fewer structural problems than an old or period home.
However, not all lenders will lend on new build properties, particularly new build flats, and those that do, have specific limits on how much you can borrow compared to the property value; this often requires you to have a larger deposit compared to buying a similar re-sale property.
If you're buying a new build property, it's important to make sure that you can secure the mortgage you need before committing to anything. Developers often require you to exchange contracts within 28 days, or you risk losing your deposit.
New build properties are often offered with various incentives; builder gifted deposit, legal fees paid, kitchen/bathroom upgrades and even mortgage subsidies. Severnside Mortgage Solutions Ltd expert advisors will be able to advise you which lenders will accept which builder’s incentives in order that you can obtain the best possible deal.
For the reasons outlined above, Severnside Mortgage Solutions Ltd strongly recommend you speak to me before committing to buy a New Build property. I can discuss your needs, establish your ability to borrow sufficient funds and secure you an outline Agreement / Decision in Principle so you may commit to buy with confidence.
Over the years, I have developed an excellent working relationship with the new homes industry and now provide specialist advice in relation to new build properties.
New-build purchases can take time to complete, particularly if you reserve the property in advance or off-plan before the building has even begun so you also need to ensure your mortgage offer is valid not only at exchange of contracts but also at completion and sometimes there can be months between the two milestones – let Severnside Mortgage Solutions Ltd take this worry off your hands.Get in touch today and Severnside Mortgage Solutions Ltd help find the best deal mortgage for your new build.