When a customer comes to you with a new build property they’ve fallen in love with, have you struggled to place them with a suitable lender? Some high street banks may not be keen but we could help.
Our new build criteria gives your customer a better chance of realising their dream. Even if they’ve been declined by a high street lender, our extensive range of Help to Buy products could help to make that dream a reality.
What’s more our New Build Priority Processing Team are committed to assessing cases quickly. You can contact the team directly by calling 0330 159 6001.
The Government’s Help to Buy scheme is available exclusively to residential customers buying a new build property and offers extra funding for London properties.
Even after your customer has purchased a property using the Help to Buy scheme we are still able to help them with our range of Help to Buy remortgage products.
Before submitting an application on this product you should ensure your customer is aware of the implications of taking a Shared Equity Loan as part of the financing of the purchase of their home.
For further information on the Help to Buy shared equity Loan Scheme your customer should go to www.helptobuy.gov.uk for England and Wales or www.mygov.scot/help-to-buy for Scotland, and ensure they fully understand how the scheme works.
BBR Trackers and reversion rates are variable rates that are linked to the Bank of England base rate. For new applications, any change to BBR will apply on our systems and documentation the next day. For existing accounts, any change to BBR will apply on the day of the change.
All of our BBR tracker products have a floor. This means that if BBR were to fall to 0.00% or less the rate payable will be 0.00% plus the agreed set percentage above BBR. This means that the rate payable will never go below 0.00% plus the additional percentage rate of the tracker mortgage.
In these difficult times we won’t be publishing SLAs but we will be working on applications and documents as quickly as we can.
As soon as we start to see processes stabilise we will publish SLAs.
We expect to be able to process all applications and documents within 72 hours but valuations may take a little longer.