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New Build Mortgage Brokers London
Buying a new build home in London is an exciting milestone, especially for first time buyers or anyone upgrading from an older property.
With modern designs, energy efficiency, and attractive developer incentives, new build properties offer great advantages.
But getting a mortgage for one can be a little different to buying an existing house.
At Strive Mortgages, we’re trusted new build mortgage brokers in London, with extensive experience helping clients secure the right new build mortgage for their situation.
Whether you’re buying through an estate agent, working with a developer, or using a Help to Buy alternative, we help you find the right mortgage and guide you through every step.
We work with a wide range of mortgage providers and lenders to help you access the best deals on the market, including options for first time buyers, self build mortgages, and high-value homes.
Looking for 5 star mortgage advise? We’re ready to help.
Whatever stage you’re at, it’s never too early to reach out.
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What Is a New Build Mortgage?
New build mortgages are designed for buyers purchasing a newly constructed home, whether that’s a flat or a house.
Mortgage lenders often apply slightly different lending criteria for new build properties, particularly when it comes to the loan to value ratio, required deposit, and the assessed property value.
If you’re planning to build property yourself, you may need a self build mortgage or a stage-release loan.
For most new build buyers in London, getting the right mortgage offer in place quickly is essential to meet deadlines and exchange contracts on time.
We assess your situation and recommend the perfect mortgage product that fits your goals, helping you avoid delays or complications.
Why Are New Build Mortgages More Complex?
Many lenders see new build properties as slightly higher risk due to factors like changes in property value, build completion delays, or legal complexity in the mortgage process.
This can mean:
- Larger deposit requirements
Often between 10 to 25 percent of the purchase price, especially for new build flats or off-plan purchases. - Tighter timelines for mortgage completion
You may have just 28 days to exchange contracts, so fast turnaround from mortgage offer to exchange is critical. - Longer mortgage offers required
Standard mortgage offers typically last 6 months, but new build completions can be delayed. Some lenders offer extended validity periods of 9–12 months to accommodate this. - Extra checks before funds are released
Lenders will take a closer look at things like the developer’s reputation, legal documents, and build quality.
Having a mortgage broker on your side keeps your application moving smoothly. At Strive, we stay ahead of deadlines and keep you on track so you can secure the best deal possible.
Outstanding service and clear communication are at the core of what we do. But don’t just take our word for it—read firsthand experiences from our clients and discover why they rate us a 5-star mortgage broker.
How Much Can You Borrow on a New Build?
How much you can borrow depends on a few key factors, including:
- Your income and financial commitments
- The purchase price and property value
- Your deposit amount
- Your credit history and the lender’s criteria
We work with mortgage lenders to assess your borrowing power and offer tailored mortgage advice based on your individual circumstances.
Whether you’re unsure about deposit requirements or need to secure a mortgage quickly before your reservation deadline, we’ll help you understand exactly where you stand.
When Should You Start the Mortgage Process?
We recommend starting with an Agreement in Principle (AIP) before you even start viewing properties. That way, you’re in a strong position to act quickly when you find the right one.
Once you’ve reserved the property or had an offer accepted, it’s time to move forward with the full mortgage application.
Getting an early mortgage offer gives you:
- Up to 6 months’ mortgage offer validity with some lenders
- More options across the mortgage market
- Time to prepare documents and meet lender criteria
- A better understanding of your monthly mortgage repayments and interest rate
From your first reservation through to completion, we’ll guide you every step of the way.
How Much Deposit Do I Need for a New Build Mortgage?
Deposit requirements depend on the lender and whether you’re buying a house or a flat.
- Flats often require deposits between 15% and 25%
- Houses typically start at 15%
- Some lenders do offer 5% to 10% deposit mortgages on both, especially for first time buyers or with government-backed schemes
We help you find the right mortgage product to match your deposit and budget, ensuring you’re not paying more than necessary.
Can You Get a Mortgage on a Self Build or Off-Plan Property?
Yes. If you’re building your own home or buying off-plan, you’ll need a more specialist mortgage product.
Self build mortgages and stage payment loans are paid out in instalments.
These might be issued at key stages, like purchasing the land, laying the foundations, and final completion.
We’ll advise you on which lenders support this structure and explain what’s involved at each stage.
New Build Mortgage for First Time Buyers
New build homes are often a great option for first time buyers in London.
Many developers offer incentives and there are government-backed schemes that can make getting on the ladder easier.
We help first time buyers:
- Understand deposit requirements
- Access shared ownership or Help to Buy alternatives
- Compare mortgage deals suited to their budget and income
- Navigate the mortgage application process with confidence
With clear advice and experienced support, buying your first home doesn’t have to be overwhelming.
Best New Build Mortgage Lenders
The best lender for your new build mortgage will depend on your personal circumstances, but we regularly work with:
- Halifax
- Skipton Building Society
- Accord Mortgages
- Barclays
These lenders are known for offering generous terms on new build properties, including extended offer periods and flexible deposit options.
What Fees and Costs Should You Expect?
When buying a new build property, make sure you budget for:
- Deposit (usually 10 to 25 percent of the purchase price)
- Stamp duty (including surcharges for second homes or investors)
- Legal fees and valuation costs
- Broker or mortgage arrangement fees
- Reservation or admin fees to secure your new home
We’ll help you understand all the costs and ensure your mortgage deal fits your wider financial plans.
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Speak to an advisor today, to lock you in with the best deal.
How Strive Mortgages Supports New Build Clients in London
We’ve helped hundreds of buyers secure the right mortgage for their new build homes.
Whether you’re buying through a developer or planning to build your own property, we:
- Match you with lenders who understand new build and self build mortgages
- Make sure your mortgage offer is in place before completion deadlines
- Communicate with estate agents, solicitors and lenders on your behalf
- Offer mortgage advice that aligns with your personal goals
Our aim is to help you secure the right mortgage and get you into your new home with confidence and peace of mind.
Ready to Get Expert New Build Mortgage Advice?
From helping first time buyers step onto the property ladder to guiding experienced buyers through a self build project, our mortgage advisers are here to offer the support you need.
We’d love to hear from you. Get started online or call us on 0330 043 1121 today to speak with a new build mortgage broker London buyers trust.
Frequently Asked Questions
Yes, most lenders offer mortgage products specifically designed for new build properties. These may have different criteria compared to older properties, particularly around deposit size and completion timelines.
Our new build mortgage brokers in London will help you compare deals and secure the right mortgage offer for your new home.
Most lenders require a larger deposit for new builds, usually between 10 and 25 percent of the purchase price. Flats may require higher deposits than houses.
Some lenders still offer 5–10 percent mortgages, depending on your financial situation. We’ll assess your deposit and help you find the best deal.
Not always. Some lenders may apply stricter criteria or higher rates due to perceived risks with new builds, but many offer competitive deals.
A mortgage broker will help ensure you don’t pay more than necessary on your monthly mortgage repayments.
If completion is delayed, we work with your mortgage lender to explore options like extending your mortgage offer or switching to a new deal. Having a broker keeps communication smooth and helps protect your position.
Strive Mortgages saves you time, hassle & money
Jamie Elvin
Jamie is an expert in all things mortgages, and our most experienced broker. Connect with Jamie and get started to see how Strive Mortgages can help you.
