Stamp Duty hike drives up moving costs
The cost of moving home in England has jumped 10.9% over the past year, according
14 May 2025
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New build homes can be an appealing choice for many buyers, but securing a mortgage on them can sometimes be tricky – particularly if the property hasn’t been built yet – so it’s vital to have the right knowledge and support on your side.
You’ve probably noticed new build projects popping up all over the UK, whether in your local area or while travelling. For mortgage purposes, a new build property is defined as a home that is being sold for the first time (meaning it has no previous owners) within the last two years, which can also include significant renovation projects.
Most new build homes are constructed by property developers such as Taylor Wimpey, Barratt Homes, and Redrow, and they are typically located within new developments or estates. When you purchase a new build, you should receive an NHBC certificate, which provides a 10-year guarantee against serious damage.
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The pros of buying a new build property are:
The cons of buying a new build property are:
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As a mortgage broker, it’s important to consider these pros and cons carefully. If you’re thinking about purchasing a new build, we can help you navigate the financial aspects and find the right mortgage options for your needs.
During the application process, we’ll:
Once your mortgage has been offered, we’ll support you all the way through to completion.
Our approach focuses on understanding your unique circumstances and tailoring our advice to fit your specific needs.
With years of experience in the mortgage industry, we navigate the complexities of the market with ease.
Nothing is ever too complex for us! We thrive on finding solutions, whether you have a unique financial situation or specific requirements.
Buying off-plan entails committing to a property that may not yet be built. Risks include potential delays in construction, changes in property prices affecting the value of the finished home, and the possibility that the finished property might not meet expectations. A reservation fee is typically paid to secure the purchase, but buyers should ensure they have robust contractual protections in place.
You can apply for a mortgage before completion of the building work. Mortgage offers for new builds often come with longer validity periods to account for construction timelines.
Secure a mortgage offer that aligns with the expected completion date of the new build property to ensure financing is in place when needed.
New build properties can be more expensive than older homes in the same area, which may affect the overall value of your investment.
You may find that you’re charged a higher interest rate for a mortgage on a new build property. This is because lenders see these mortgages as riskier, due to the possibility that the value of the property may fall in its early years.
We say you should always have at least a 10% deposit when buying a home, and if you can increase that to a higher percentage it would be even better.
There’s lots of numbers involved and calculations to do when dealing with finances, explore our free-to-use calculators to keep things simple.
Calculate what a monthly mortgage payment might look like for you.
At Appleton Mortgages, we’re committed to guiding you every step of the way, making the process as seamless and enjoyable as possible.
Understand our 8 step process, from having your initial chat to receiving your keys.
Contact us via phone, email, or our website to schedule your initial consultation. During this conversation, we’ll discuss your goals, financial situation, and any specific requirements you may have. This helps us understand how we can best assist you.
In our in-depth consultation, we’ll dive deeper into your needs and preferences. We’ll gather essential information, such as your income, credit history, and desired property type. This allows us to assess your mortgage options and outline a personalised plan.
Once we have all the necessary information, we’ll conduct thorough research to find the most suitable mortgage products for you. We’ll present our recommendations, explaining the benefits and potential drawbacks of each option, so you can make an informed decision.
After you choose a mortgage option, we’ll help you prepare your application. This includes gathering all required documents and ensuring everything is in order. We’ll guide you through the paperwork and clarify any questions you may have.
We’ll submit your mortgage application to the lender on your behalf. Our team will stay in close contact with the lender to ensure everything moves smoothly and address any queries that may arise during the process.
As your application is processed, we’ll liaise with estate agents and solicitors to keep everyone in the loop. This allows you to focus on your day job while we handle the running around and ensure all parties are aligned.
Once your application is approved, you’ll receive a formal mortgage offer. We’ll review the offer with you to ensure you understand the terms and conditions, and we’ll help you navigate the acceptance process.
Finally, once all legal work is completed and the funds are in place, your mortgage will be finalised. We’ll be there to support you through the completion, ensuring everything goes smoothly and you’re ready to move into your new home!
The cost of moving home in England has jumped 10.9% over the past year, according
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We offer face to face appointments in the areas where we have brokers. If you live outside of that area, we can still help you! We offer phone call and zoom appointments nationwide.
There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £295
Your home may be repossessed if you do not keep up repayments on your mortgage.
Appleton Mortgages Limited is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
Registered Office: Appleton Mortgage Limited,85 Great Portland Street, London, England, W1W 7LT. Registered Company Number: 15807713.Registered in England & Wales/Northern Ireland/Ireland/Scotland.