Residential - New Build and Help to Buy

Overview

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 within 48 hours and providing offers within 21 days. 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.

What you need to know

  • Help to Buy remortgage products allowing £ for £ and capital raising (staircasing) remortgages available for properties originally purchased using any Help to Buy Shared Equity scheme. See our Help to Buy remortgage guide for more details.
  • We accept applications on Help to Buy Scotland Shared Equity schemes.
  • We can consider an adverse history (see our Help to Buy Product Guide for more information).
  • Non-repayable family gifted deposits accepted.
  • Self-employed with 1 year’s accounts or Tax Overview with either SA302 or HMRC tax Calculation.
  • New Build cases assessed within 48 hours, offered within 21 days.
  • Mortgage offers for new build properties are valid for six months from the date of valuation, but can be reviewed and may be extended for up to an extra three months if the completion date slips due to circumstances outside your control.

Product and Criteria guides

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.

Bank of England Base Rate (BBR) Trackers and the Reversion Rate

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.

Residential Mortgages

Contact us

Document downloads


Residential Mortgage service update


Buy to Let Mortgage service update (including Portfolio and Limited Company)


New Build Residential service update


All applications

1excludes the day of upload/receipt

Download our Residential or Buy to Let Mortgages submission guides to help provide a smooth application process for you and your customer.

For intermediary use only
BBR 0.75%