New Homes Mortgage News
The housebuilding industry in England and Wales is now worth £38bn a year, supporting nearly 700,000 jobs, according to a new report by planning and development consultancy Lichfields.
Santander have announced that, for new business from Monday 25th June 2018, they will no longer need to see a copy of the Authority to Proceed (ATP) document.
Excited about the prospect of buying a new build but not sure how to go about getting a mortgage to make it happen? Find out more about the factors you need to take into account below.
With the Government currently focussing on building new homes, you've probably noticed one or two new developments around your local area. Maybe you've been tempted to have a look at some show homes and think a new build home might be the answer for you?
When it comes to getting a mortgage for your new build property, it shouldn’t be unlike purchasing any home. The only real difference being that developers can require exchange and completion within a short timescale.
That’s where The Mortgage Hut can help! From searching for the most suitable mortgage deal for you, to processing all the required paperwork, we can make sure every aspect of your mortgage and any relevant insurances you may need are dealt with quickly and efficiently so you are ready to move into your brand new home.
Why Buy a New home?
A modern home with brand new fitted kitchen, bathrooms, fixtures and fittings could save you paying out money on redecoration or renovations in the near future - you may even be able to choose your kitchen, bathroom tiles and flooring if you purchase early enough into the building process.
New homes offer an attractive range of benefits including an NHBC guarantee which would cover any potential structural problems.
A new build home may be more energy efficient than an older property, saving you more money on outgoings each month.
Is New Build House Right for You?
There are a number of important things to consider when deciding if a new build home is right for you. Just because a home is new, it does not mean it will be completely free from defects which may lead to negotiations with your builder.
Depending on the stage of the development, you may spend the first few months or even years in your home on a building site.
You may need a slightly higher deposit for a new build property and timing your mortgage with your home completion can get complicated.
First Time House Buyer?
Looking for the most suitable deal on your first time buyer mortgage -contact us.