Mortgage for New Build House

Latest Deal - NatWest 2 Year TRACKER »

Call FREE - 0800 158 2934 

1.59%Reverts to 3.75% after 2 years
  • 2 Year Tracker - 60% LTV Deal
  • Call FREE - 0800 158 2934


Overall Cost for Comparison 3.80% APRC. This is the cost of the mortgage over the full term. Early redemption charges may apply.

Compare Mortgages for New Build Houses

If you want to buy a new build property, there are a variety of options on the market, including Government-backed schemes such as NewBuy, which offers high loan-to-value (LTV) mortgages requiring a low deposit to those looking to purchase a newly built house. This scheme is designed to assist first time buyers and those who would otherwise struggle to raise a deposit. The scheme is also intended to stimulate the construction industry by encouraging the building of new homes. To compare a range of mortgages for new build houses and other first time buyer mortgage deals, use our FREE mortgage calculator, below: 

Fixed Rate Mortgage Deals

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

1.32%

Reverts to 3.75%

2

Years

60%

YesMore Info >
  • Call 0800 056 8572 to speak to a NatWest mortgage specialist
Fixed

1.32%

Reverts to 3.75%

2

Years

60%

YesMore Info >
  • Call 0800 096 7962 to speak to an RBS mortgage specialist
Fixed

1.18%

Reverts to 3.69%

2

Years

60%

YesMore Info >

Fixed

1.29%

Reverts to 3.69%

2

Years

75%

YesMore Info >

Fixed

2.09%

Reverts to 4.70%

2

Years

75%

YesMore Info >
  • Available to all customers
Fixed

1.74%

Reverts to 3.69%

2

Years

75%

NoMore Info >

Fixed

2.09%

Reverts to 4.70%

2

Years

75%

YesMore Info >
  • Available to all customers
Fixed

1.64%

Reverts to 3.69%

2

Years

60%

NoMore Info >

Fixed

1.84%

Reverts to 3.69%

2

Years

60%

YesMore Info >

Fixed

2.49%

Reverts to 4.70%

2

Years

75%

NoMore Info >
  • Available to all customers
  • No product fee

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above fixed rate mortgage products are a selection of deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

Tracker Mortgage Deals

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Tracker

1.59%

Reverts to 3.75%

2

Years

60%

YesMore Info >
  • Call 0800 158 2934 to speak to a NatWest mortgage specialist
Tracker

1.59%

Reverts to 3.75%

2

Years

60%

YesMore Info >
  • Call 0800 096 7447 to speak to an RBS mortgage specialist
Tracker

1.79%

Reverts to 3.75%

2

Years

70%

YesMore Info >
  • Call 0800 158 2934 to speak to a NatWest mortgage specialist
Tracker

1.79%

Reverts to 3.75%

2

Years

70%

YesMore Info >
  • Call 0800 096 7447 to speak to an RBS mortgage specialist.
Lifetime Tracker

1.74%

Life of the mortgage

60%

YesMore Info >
  • Call the HSBC mortgage team 0800 077 4336
  • Product fee of £999
Lifetime Tracker

1.94%

Life of the mortgage

70%

YesMore Info >
  • Call the HSBC mortgage team 0800 077 4336
  • Product fee of £999

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above tracker rate mortgage products are a selection of deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

Discount Rate Mortgage Deals

Provider

Type

Initial Rate

Initial Term

Overall Cost for Comparison

Max LTV*Product Fee 
Discounted
Variable

1.99%

Reverts to 4.70%

2

Years

4.40%

75%

YesMore Info >
  • Available to all customers
  • Product fee of £999 (£499 existing customers) 
Discounted
Variable

2.19%

Reverts to 4.70%

2

Years

4.40%

80%

YesMore Info >
  • Available to all customers
  • Product fee of £999 (£499 existing customers) 

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above discount mortgage products are a selection of deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

Buy to Let Mortgage Deal Selection

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed
Buy-to-Let

1.95%

Reverts to 4.25%

2

Years

60%

YesMore Info >
  • Call 0800 096 7962 to speak to an RBS mortgage specialist.
Fixed
Buy-to-Let

1.99%

Reverts to 4.74%

2

Years

60%

YesMore Info >
Fixed
Buy-to-Let

2.14%

Reverts to 4.74%

2

Years

75%

YesMore Info >
  • Available to all customers
  • Call 0330 333 3893 to speak to us about this deal
  • Product fee £995

*APR = Overall Cost for Comparison

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above buy to let mortgage products are a selection of deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

Independent Mortgage Quotes & Advice Service
Mortgage ServiceIndependent Mortgage AdviceMortgage Quotes Tailored to youFast Track ServiceMortgage Protection ReviewGet Quotes
yesyesyesyesMore Info >
  • Call 0117 332 6063
  • Independent mortgage advice
  • Experienced administration support
  • Fast Track Service

What is the Loan-To-Value ratio (LTV)?


The loan to value ratio of a mortgage indicates how much of your property you own outright (covered by your deposit, and commonly known as equity) and the amount you are borrowing (covered by your mortgage), expressed as a percentage. To compare top mortgage rates and find the best NewBuy mortgage deals for you, use the mortgage calculator to search over 5,000 mortgage deals based on your personal circumstances.

 

What are the advantages of a new build mortgage?


There are several reasons why people choose to take out a mortgage on a new build home, including:

 

  • More accessible - It can sometimes be easier to get a mortgage on a new build property due to the influence of schemes such as NewBuy, which have forged links between property developers, mortgage lenders, and the Government. This could help buyers to get a higher LTV mortgage than might be available on an older property.
  • Lower deposit  – Schemes such as NewBuy offer the option of lower deposits on new build homes, and it may be possible to get a new build mortgage with a deposit of as little as 5%.
  • Good condition  – Buying a newly build house means that you shouldn’t need to finance expensive renovation or redecoration when you move in. New homes also tend to have higher standards of insulation and eco-efficiency than older properties, which could save you money on energy bills.

 

How does a NewBuy mortgage work?


If you are thinking of getting a mortgage on a newly built property, you may want to consider the NewBuy scheme. This is a Government initiative, launched in March 2012, which aims to help people in England to buy a new build home. You may be eligible for the NewBuy scheme provided that you have a deposit of at least 5% - this is a smaller deposit than is normally required to secure a mortgage.

 

  • NewBuy is available in England on all new properties offered by home builders participating in the scheme, up to and including a sale price of £500,000.  
  • Most major and many smaller home building companies have now registered with NewBuy, or are in the process of registering, but check with the building company before you apply for a NewBuy mortgage.
  • New home buyers wishing to take advantage of the scheme will need to qualify for a mortgage with a mortgage lender in the usual way and be subject to the lender’s normal assessment criteria.


If you apply for a new build mortgage, lenders will consider criteria such as:

 

  • Your earnings  - Do you earn enough to borrow the amount you want?
  • The stability of your income - Are you self-employed or new in a job?
  • Your outstanding debts  - How much debt do you have?
  • Your credit rating - Have you ever missed a mortgage payment or other repayment in the past? Do you have any County Court Judgments (CCJs) against you? Have you even been bankrupt?
  • Your eligibility for the NewBuy scheme – if you apply for a mortgage under the NewBuy scheme you will be required to fulfill certain additional criteria specific to this scheme.

 

How much will a new build mortgage cost?


The cost of mortgages for new build houses depends on your circumstances – if you have a substantial deposit or equity in your current property, you can purchase a new build property as you would any other house. However, new build homes can be appealing to first time buyers or those with low deposits since they are often eligible for schemes such as NewBuy. And can be purchased with a high loan to value (LTV) mortgage. If you opt for this type of mortgage on a new build home, it will generally be more expensive than mortgages with lower LTVs as the bank is taking on more risk due to the greater amount owed. To find the best mortgages for new build houses, click on the FREE mortgage calculator above and compare over 5,000 deals tailored to your personal requirements.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker