New Build

Are you buying a new build home?

New Build Mortgages

Buying a new build home? At J Finance, we’ll guide you through the process and help you find the right mortgage for your brand-new home.

For the purposes of buying a property, a new build is one that has had no previous owners following construction, conversion or refurbishment. It might be a property that you purchase off-plan (before it’s been built), or one that has been completed for only a year or two.

If a new build sales adviser wants you to use their mortgage broker, it is always worth speaking to another for an independent view. At J Finance, we are mortgage experts.

If you’re searching for new build mortgages in and around Berkshire, contact us for independent, professional advice to help you secure the best deal. Call us today on 01635 521 300.

Benefits of buying a new build property

New build houses and flats are an attractive proposition for many buyers. Here are just some of the advantages:

  • There’s no chain to hold up the buying process.
  • Your property won’t need any repairs or renovation done, and come with a 10-year New House-Building Council guarantee.
  • They must be energy efficient – meaning you’ll pay less in energy bills.
  • You may be able to specify which fixtures, fittings and décor you want in your new home.
  • There are schemes available to help you manage the cost of a new build home, such as the Help to buy Equity Loan and the Starter Homes Initiative (but note that opting for these schemes may limit your choice of lenders).
  • You may be offered incentives from developers to entice you to snap up their properties.

What you need to know

Buying a new build property comes with certain issues that don’t apply to older properties. So, it’s important to seek advice so you are aware of all the factors that can affect your ability to get a new build mortgage. If the property is not yet completed when you make an offer, you’re taking a risk by committing to a home you haven’t been able to view.

Timing is crucial when it comes to new builds. A mortgage offer is typically valid for 6 months, but with a new build, you may find that the property is not completed and ready for you within that timeframe. On the other hand, it’s often vital that you move quickly in order to reserve your property, with developers often requiring buyers to put down a deposit and exchange contracts within 28 days.

Mortgage Calculator

Take a look at our Mortgage Calculator to work out your monthly payment, just click on the button below:

Mortgage Calculator


Many mortgage lenders see new homes as attracting premium prices that will devalue. That means they often require a higher deposit and are willing to lend a smaller proportion of the property’s value, typically 75% for a flat and 85% for a new build house.

There may be some restrictions on the type of building you can buy. Some lenders may not offer mortgages for new flats converted from former offices or local authority blocks. Lenders may only offer mortgages on a certain proportion of flats in a new development, so you may miss out if yours is one of the last properties to be reserved.

New Build Mortgages J Finance