Table of Content
Best New Build Mortgage Lenders — UK Lender Comparison 2026
Which UK lenders are best for new builds — broken down by tier, by property type, and by deposit. Whole-of-market specialist guide for new build buyers and remortgagors.
on new build houses
with the right lender
on select lenders
for off-plan purchases
Free whole-of-market new build review — we’ll match property type, deposit, scheme and incentive package to the right lender
Best New Build Mortgage Lenders — What “Best” Actually Means
There is no single best new build mortgage lender, because “best” depends on the case. The strongest lender for a 5% deposit first-time buyer on a new-build house is rarely the strongest lender for an off-plan flat purchase with a sizeable gifted deposit. This guide breaks down the UK new build lender market by tier — mainstream high street, flexible alternatives, specialist routes — and shows where each one earns its place. For the full overview of new build mortgages, see our pillar guide.
What is a new build?
Before getting into lender criteria, it’s worth establishing what counts as a new build. The definition varies between lenders, but it’s most often a property that has been occupied in its current state for the first time — typically within a two-year period from completion. The two-year window matters because most lenders apply tighter criteria (lower LTV caps, additional deposit checks, warranty requirements) during that period before the property is treated as a standard residential purchase.
The definition also commonly includes:
- Conversions — former offices, pubs, warehouses or other commercial buildings converted into residential flats or houses
- Significant rebuilds — properties stripped back to the structural shell and rebuilt, often treated as new builds for warranty and lender purposes
- Large refurbishment schemes where a building has been so materially changed that lenders class it as new rather than resale
If you’re unsure whether a specific property will be classed as a new build by lenders, the warranty type (NHBC, LABC, Premier Guarantee, Build-Zone) and the developer’s scheme enrolment are usually the giveaways. The classification matters because it shapes deposit, LTV, incentive treatment and which lenders will engage.
Quick-Reference Table — Major New Build Lenders At A Glance
Headline criteria for the seven most-used UK new build mortgage lenders. Full lender-by-lender detail in the tier section below.
| Lender | House LTV | Flat LTV | Incentives | Offer length |
|---|---|---|---|---|
| Halifax | 95% | 85% | 5% cap | Up to 12mo on off-plan |
| Nationwide | 95% | 85% | Not above 90% LTV | Up to 9mo |
| Santander | 95% | 95% | Flexible within 5% | 6mo |
| NatWest | 90% | 85% | Case-by-case | Up to 9mo |
| HSBC | 90% | 85% | Strict 5% cap | 6mo |
| Barclays | 90% | 85% | Case-by-case | 6+6mo extension |
| Skipton | 95% | 95% | Wide acceptance | Up to 9mo |
UK New Build Mortgage Lenders Ranked by Tier
Lenders grouped by how they typically engage with new build cases — not by rate. Tap each tier to see the lenders, their headline criteria and where each one earns its place.
Lender criteria for new build mortgages changes frequently. Deposits, LTV caps, income multiples and incentive rules all shift over time — always confirm current policy with a broker before relying on a specific lender position.
Find Out Which New Build Lenders Will Approve Your Case
Tell us the property type, the deposit, the developer, the incentive package and any scheme involvement. We’ll match you to the new build mortgage lender most likely to approve — before any credit footprint is left and before a wrong-lender application stalls your purchase.
New Build Mortgage Criteria by Property Type — Houses, Flats & Conversions
Lenders treat new build houses, flats and conversions as three different risk profiles. Maximum LTV, minimum deposit, site exposure rules and warranty acceptance can all shift between them. Tap each property type to see how lenders approach it.
The most lender-friendly property type in the new build category. Most major UK lenders compete actively on new build houses, particularly from recognised developers like Persimmon, Taylor Wimpey, Barratt, Bellway, Bloor Homes, Berkeley Group, Redrow, Vistry and Crest Nicholson with NHBC, LABC or Premier Guarantee warranties. Deposit requirements are generally the most flexible:
- 5% deposit possible with Halifax, Nationwide, Santander, Skipton, TSB, Leeds BS and a small number of others
- 10% deposit opens up the broader high street — HSBC, NatWest, Barclays, Metro, Virgin Money, Coventry BS, The Co-operative Bank
- 15%+ deposit brings the most competitive rates in nearly all cases
Builder incentives up to 5% of purchase price are widely accepted. Site exposure rules apply — lenders typically lend on no more than 25–33% of units in any one development. The competitive end of the market is sharper here than anywhere else in new build lending, so getting the lender match right delivers the strongest pricing.
Lenders treat new build flats more cautiously than houses. Maximum LTVs typically sit lower, deposits are higher, and additional rules around development size, building height and cladding can apply.
- 80% LTV (20% deposit): Virgin Money
- 85% LTV (15% deposit): Halifax, Nationwide, NatWest, HSBC, TSB, Barclays, Coventry, Co-operative
- 90% LTV (10% deposit): Metro Bank stands out at this band on flats
- 95% LTV (5% deposit): achievable on flats with select lenders — Santander, Skipton, Accord
- High-rise flats (typically above 6–10 storeys depending on lender) trigger additional rules around fire safety, EWS1 forms and building age
- Site exposure applies more aggressively — on large flat developments, lenders can hit their cap quickly
Lender match on flats is more decisive than on houses — the same flat can be 95% LTV with one lender and 85% maximum with another.
Cladding and fire safety reshaped the new build flat mortgage market after Grenfell in 2017. Lenders introduced the EWS1 (External Wall System) form — a survey rating a building’s external wall fire risk. Whether your new build flat needs one, and what the rating is, materially shifts lender choice.
- Post-2018 new builds: typically don’t require an EWS1 because they were built to updated post-Grenfell safety standards. Most lenders accept these cleanly
- Pre-2018 buildings: often require an EWS1 form for flats above 11m (roughly 4 storeys) or with external cladding systems
- EWS1 rating A1 or A2: external walls don’t have combustible materials — widely accepted by mainstream lenders
- EWS1 rating B1: some combustible materials present but fire risk is sufficiently low — generally accepted, though lender choice narrows
- EWS1 rating B2: requires remediation — severely restricts mortgage options. Specialist lenders may consider, but most mainstream lenders decline until remediation completes
For new build buyers, the practical takeaway: confirm with the developer whether an EWS1 form is required before exchanging contracts, and get the rating in writing. We can check current lender appetite for specific cladding scenarios as part of our review.
Conversions of former offices, pubs, warehouses or commercial buildings into residential flats are typically classified as new builds by lenders — meaning new build deposit rules and warranty requirements apply. The lender pool is narrower than for purpose-built flats:
- 80% LTV (20% deposit) is the most common starting point for conversions
- 85% LTV achievable with select lenders on stronger cases
- 95% LTV is rare on conversions and typically only available where the conversion is from a residential precursor (not commercial)
- Warranty requirements are scrutinised more carefully — recognised provider cover (NHBC, LABC, Premier Guarantee, Build-Zone) helps significantly
Permitted Development Right (PDR) conversions — where commercial-to-residential conversion happens without full planning consent — face additional lender caution. Many lenders restrict or decline PDR conversions, particularly where minimum residential space standards weren’t applied. Always confirm the conversion route and consent status before committing — this is where wrong-lender applications stall most often on new build cases.
Site exposure is the maximum percentage of homes within a single new build development that one lender will lend mortgages against. Most major UK lenders cap it at 25–33% of units on any one development. Once a lender hits its cap, that lender stops accepting new applications on that scheme — sometimes mid-application, with no warning. A previously-suitable lender suddenly returns a decline.
This matters most on larger flat developments and phased releases where earlier phases are nearly sold. Most lenders share site exposure status with their intermediary teams — we check before submitting any new build application on a large scheme, avoiding the worst-case scenario of a wasted credit search and a late-stage lender pivot.
How We’ve Placed New Build Mortgages For Clients Like You
Three recent new build cases — high LTV flats, 5% deposit, builder incentive structures — showing how lender match changes the outcome. Names changed, lenders and figures real. Swipe to browse.
Daniel & Lisa, Brighton — £720k mortgage at 90% LTV after bank capped at 85%
The situation: Buyers had reserved an £800,000 new build flat in Brighton, paid the developer’s reservation fee, and approached their existing bank for a mortgage. Strong income, clean credit, £80,000 saved — ready to put 10% down.
The lender problem: Their bank’s policy capped lending on new build flats at 85% LTV. To proceed they’d need an additional £40,000 in deposit they didn’t have. The case was effectively declined — not on credit, not on affordability, just on lender policy for new build flats.
What we did: The flat had everything lenders want — NHBC warranty, no cladding issues, established developer, mid-rise block. We placed the case with a lender that specifically considers 90% LTV on new build flats given a clean development profile. Site exposure was checked before submission.
The outcome: £720,000 mortgage approved at 90% LTV, offer issued within the developer’s exchange timeline, no re-application required.
“The bank had effectively declined us on a technicality. Jack found the lender that does 90% on new build flats and routed us straight there.”
Aisha & Tom, London — first-time buyer flat with 5% deposit after high street decline
The situation: First-time buyers in London had reserved a new build flat and were working to a tight developer reservation window. They had 5% of the purchase price saved as deposit and a combined income that supported the borrowing on standard affordability.
The lender problem: Their high street bank declined the case. Automated decision came back with a hard 85% LTV cap on new build flats — meaning the 5% deposit structure was impossible with that lender. They either had to find another 10% deposit they didn’t have, or find a lender that goes to 95% LTV on new build flats.
What we did: The lender pool willing to lend at 95% LTV on new build flats is narrower than for houses — Santander, Skipton and Accord are typically the most open. We assessed which would treat the specific development cleanly (warranty type, building height, site exposure), positioned the application, and routed first time. AIP returned within 48 hours.
The outcome: 95% LTV mortgage approved on the new build flat, AIP through to formal offer within the developer’s reservation window. First-time buyers onto the ladder without finding another £30,000+ in deposit.
“The bank’s app told us no in 30 seconds. Jamie went straight to the right lender for new build flats at 95% and we had an offer in two weeks.”
Marcus & Sophie, Richmond — £500k flat with 5% buyer + 5% builder gifted equity
The situation: Clients had reserved a £500,000 new build flat in Richmond. 5% personal deposit (£25,000) plus a 5% gifted equity contribution from the developer as an incentive — combined deposit position of 10% on a 90% LTV mortgage.
The lender problem: Builder gifted equity is widely accepted, but the lender pool that allows it stacked on top of a 5% buyer deposit at 90% LTV on new build flats is narrower than it looks. Some lenders accept gifted equity only above 90% LTV; others apply hard incentive caps that reduce the property valuation if not structured correctly.
What we did: Worked with the developer to confirm the incentive structure and ensure the UK Finance Disclosure of Incentives Form was properly completed before submitting. Lender chosen specifically for acceptance of builder gifted equity at 90% LTV on new build flats. The 5% buyer deposit met the minimum personal contribution and the 5% incentive sat cleanly within cap.
The outcome: £450,000 mortgage placed at 90% LTV, builder gifted equity properly documented, offer issued cleanly within the reservation window. Right lender + properly-documented incentive structure made it work.
“Greg got the developer’s incentive paperwork right first time and picked a lender that accepts the structure. Offer through in under three weeks.”
Best New Build Mortgage Lenders for First-Time Buyers
First-time buyers are typically well served by the new build lender market. Most lenders that lend on new builds also lend to FTBs, often with enhanced criteria. The right lender match can move borrowing power materially.
For first-time buyers on new build houses with a 5% deposit, the leading mainstream routes are Halifax, Nationwide and Skipton. Our first-time buyer mortgages guide covers the full FTB landscape. New build-specific considerations:
- Nationwide Helpful Start — up to 6x income: For eligible employed first-time buyers with minimum income thresholds, Nationwide’s Helpful Start proposition extends income multiples to 6x — meaningfully more borrowing power than the standard 4.5–5x. Not available to self-employed applicants. See our 5.5x income guide for high-multiple routes
- Halifax 95% LTV for FTBs: 5% deposit on new build houses widely available. Affordability up to 5.5x in some cases. Combined with longer offer periods on off-plan, often the strongest FTB route on a new build house
- First Homes Scheme: 30–50% discount on selected new builds for eligible FTBs. Accepted by Halifax, Nationwide, Skipton, Leeds BS, Newcastle, Pepper Money and others. Income multiples typically capped at 4.5x
- Shared Ownership: Buy a share (25–75%), pay rent on the remainder. Widely accepted by mainstream lenders on new builds. 5% deposit on share value is typical minimum
- JBSP (Joint Borrower Sole Proprietor): Parents help with affordability without going on the title. Useful where FTB income alone can’t support the borrowing. Full JBSP guide
- Lifetime ISA: Up to £4,000/year saved with 25% government bonus — can be used as deposit on new builds under £450,000 in any UK location for FTBs
How Builder Incentives Affect New Build Mortgage Lender Choice
Most UK lenders accept builder incentives — gifted deposits, paid stamp duty, fixtures and fittings, cashback — up to 5% of the property purchase price. Above that threshold, lender treatment diverges sharply. Knowing where each lender draws the line decides whether a strong incentive package helps you or hurts you.
Most lenders cap total accepted incentives at 5% of the property price. This includes everything the developer gives the buyer that has monetary value: gifted deposit, stamp duty paid, mortgage payments paid, white goods, flooring, carpets, paid legal fees, cashback at completion. The lender adds it all up and tests it against the 5% threshold.
Below the threshold — the mortgage proceeds normally on the agreed purchase price, with the incentive contributing to deposit or treated as added value depending on its form.
Above the threshold — lenders take three different approaches:
1. Hard cap. Some lenders simply won’t lend if total incentives exceed 5%. The application is declined.
2. Downvalue. Many lenders will lend, but reduce the property valuation by the excess incentive amount. So a £500,000 property with 7% incentives might be valued at £490,000 for mortgage purposes — meaning the buyer’s effective deposit reduces and they may need to top up the gap.
3. Flex acceptance. A small number of lenders will consider higher incentive packages on a case-by-case basis where the underlying property valuation supports it. These cases need careful manual underwriting.
The standard UK Finance Disclosure of Incentives Form is the document developers complete to declare all incentives offered with a new build. Lenders rely on this form to assess incentive treatment.
A poorly completed or missing disclosure form is one of the most common reasons new build mortgage applications stall late in the process. Lenders won’t finalise an offer without it, and developers occasionally complete it incorrectly — understating incentives, missing items, or filling out an outdated version. Confirming the disclosure form is properly completed before mortgage application avoids weeks of delay later.
A builder gifted deposit is the developer contributing a percentage of the purchase price as effective deposit — typically up to 5% — to help the buyer reach the lender’s minimum LTV threshold.
Most lenders accept builder gifted deposits, but they also require the buyer to contribute their own funds. The standard structure is 5% buyer deposit plus 5% builder gifted deposit, totalling 10% deposit on a 90% LTV mortgage. Pure builder-funded deposits with zero buyer contribution are rarely accepted.
This matters at 95% LTV. If the buyer has only 5% of their own funds and the lender requires that 5% to come entirely from the buyer, the builder gifted deposit doesn’t bring the LTV down further — it’s additional value but doesn’t reduce the loan needed. Position depends on lender.
Halifax: Accepts incentives up to 5% of purchase price, plus separate non-financial extras like fitted kitchens, flooring and white goods that are part of the standard build specification. Above 5%, downvaluation typically applies.
Nationwide: Accepts incentives up to 5%, but applies a hard cap above 90% LTV — builder incentives aren’t accepted at 95% LTV at all. This is a meaningful constraint for 5% deposit buyers using new build incentives.
Santander: Treats incentives flexibly within the 5% cap, with case-by-case review for slightly higher packages where valuation supports it. Strong choice on flats with significant incentive packages.
HSBC: Strict 5% cap. Above this, the loan amount is reduced based on the lower of purchase price minus incentives, or open market valuation excluding incentives.
NatWest: Accepts 5% incentive cap with case-by-case treatment above. Generally considered cleaner on standard incentive structures than complex packages.
For a deeper dive on incentive treatment across lenders, see our developer incentives guide.
New Build Mortgage Lenders for Affordable Housing Schemes
If you’re buying through Shared Ownership, the First Homes Scheme, Discount Market Sale or any other affordable housing route, lender choice narrows. Not every new build lender accepts every scheme, and even where they do, criteria can differ from standard new build mortgages.
Help to Buy Equity Loan: Closed to new applicants in October 2022. The scheme is no longer available for new build purchases in England. Existing Help to Buy borrowers can still remortgage or staircase out of the equity loan portion — our remortgage guide covers the options. For first-time buyers needing a route onto the ladder, the current alternatives are First Homes Scheme, Shared Ownership and standard 95% LTV mortgages from Halifax, Nationwide and others.
Scheme acceptance can change with little notice, particularly as government-backed scheme structures evolve. Always confirm current lender policy before committing to a particular scheme route — or speak to us and we’ll check across the market for you.
New Build Warranty Requirements — Why Lender Acceptance Differs
Most UK mortgage lenders require a recognised 10-year structural warranty on new builds before they’ll lend. NHBC, LABC and Premier Guarantee carry the broadest mainstream lender acceptance. Build-Zone, ICW and Self-Build Zone are typically accepted by most lenders. Smaller providers face more variable acceptance.
Where a warranty is missing, lapsed or only retrospective, lender choice narrows materially. Skipton, Nationwide and Accord are typically the most flexible on warranty edge cases. Some smaller-developer new builds are signed off with a Professional Consultant’s Certificate (PCC) rather than a structural warranty — PCC acceptance varies by lender and unit count, with Halifax, Skipton and TSB accepting up to 15 units, and HSBC and Metro Bank not accepting PCCs at all.
For the dedicated deep-dive on warranty edge cases — retrospective warranties, PCCs, the 10-year property age rule and absent-warranty scenarios — see our retrospective warranty mortgage guide and our PCC mortgage guide.
How Long New Build Mortgage Offers Last — Lender Comparison
For new builds, particularly off-plan, mortgage offer length is a primary lender selection criterion alongside rate. Most lenders issue 6-month offers; some go longer; a small number reach 12 months on certain off-plan cases.
Mortgage offer extension policies change frequently and aren’t always automatic — some require updated affordability checks, others require fresh credit searches. Always confirm extension availability and conditions before relying on an offer length for an off-plan purchase.
Working With a New Build Mortgage Specialist Broker
New build mortgages have more moving parts than standard residential cases — lender criteria, property type, deposit structure, builder incentives, scheme acceptance, warranty type, mortgage offer length and site exposure all influence the outcome. Whole-of-market broker placement materially changes which lender approves and at what rate.
- A decade-plus working with new build sites and developers. Strive has placed thousands of new build cases — from 5% deposit first-time buyers on standard developer sites, to off-plan high-rise flats with significant incentives, to retrospective-warranty rescues and PCC-backed self-builds. We know which lender treats which scenario favourably before we even pick up the phone.
- Direct intermediary access across the market. Mainstream high street, mid-tier and specialist new build lenders — we have direct relationships with underwriting teams across the lender pool. Particularly valuable when your case has nuance the automated systems can’t handle.
- Site exposure checks before applying. Lenders cap the percentage of any one development they’ll lend against. We check site exposure before recommending a lender — avoiding the late-stage surprise of a previously-suitable lender suddenly declining because the cap was hit.
- Straight answers on incentive packages. If your developer is offering 7% in incentives, we’ll tell you which lenders will lend on it cleanly, which will downvalue, and which will decline — before you exchange contracts.
Tell us about the property — type, developer, deposit, incentives, scheme involvement, expected completion — and we’ll tell you which lenders fit cleanly. One free conversation. If we’re the right fit, great. If not, we’ll point you in a useful direction anyway.
New Build Mortgage Lender FAQs
The questions buyers and remortgagors ask most often when choosing a new build mortgage lender.
There is no single best new build mortgage lender — the right choice depends on deposit size, property type (house, flat or conversion), incentive package, scheme involvement and applicant profile. For new build houses with a 5% deposit, Halifax, Nationwide and Skipton are typically among the strongest. For new build flats at higher LTV, Santander and Skipton stand out as more open than most. For unusual scenarios — small developments, affordable housing schemes, conversions or non-standard warranties — Skipton, Accord and specialist lenders often have an edge.
Yes. A 95% LTV new build mortgage is possible, but options are narrower than on a second-hand property. Halifax, Nationwide and a small number of other mainstream lenders offer 5% deposit mortgages on new build houses. New build flats are treated more cautiously — most lenders cap at 85–90% LTV on flats, with Santander among the few willing to go to 95%. Builder incentives can sometimes top up the deposit, but lenders normally require at least 5% to come from the buyer’s own funds.
Yes — first-time buyers are typically very well served by the new build lender market. Most major UK lenders that lend on new builds also lend to first-time buyers, often with enhanced affordability. Halifax, Nationwide and Skipton are particularly competitive for FTB new build cases, with Nationwide’s Helpful Start proposition offering up to 6x income multiples for eligible first-time buyers. The 5% deposit threshold is achievable for FTBs on new build houses with the right lender match. Full first-time buyer mortgages guide.
No — the Help to Buy Equity Loan scheme closed to new applicants in October 2022 in England and is no longer available for new build purchases. Existing Help to Buy borrowers can still remortgage or staircase out of the equity loan portion. The closest current equivalents for first-time buyers on new builds are the First Homes Scheme (30–50% discount), Shared Ownership, and standard 95% LTV mortgage products from Halifax, Nationwide and others.
It depends on the cladding type and the EWS1 (External Wall System) rating. New build flats constructed after 2018 typically don’t require an EWS1 form because they were built to updated post-Grenfell safety standards. For buildings that do require an EWS1, a rating of A1, A2 or B1 is generally accepted by most lenders, while B2 or cladding requiring remediation severely restricts lender choice. Specialist lenders may consider cases where mainstream lenders decline.
Most lenders offer 4.5 to 5 times income on new build mortgages, in line with standard residential lending. A growing number of lenders — including Halifax, Nationwide, Santander and others — will go to 5.5 times income, and in some cases up to 6 times, where affordability and applicant strength support it. Borrowing through Shared Ownership or the First Homes Scheme is typically capped at 4.5 times income regardless of the lender.
Most UK lenders issue new build mortgage offers valid for around six months (typically 180 days). Some lenders extend this to 8–9 months, and a small number — including Halifax in certain cases — will go up to 12 months on new build cases, particularly off-plan purchases. Choosing a lender with a longer offer period from the start matters where the build is ongoing or completion is uncertain.
Builder incentives — gifted deposits, paid stamp duty, cashback, fixtures and fittings — can affect both how much a lender will lend and which lenders will engage. Most lenders cap total incentives at 5% of the purchase price. Above that threshold, some lenders will still lend but reduce the property’s valuation by the excess incentive amount, which effectively increases the deposit the buyer must provide. Full guide to developer incentives.
Yes. Most major UK lenders offer mortgages on off-plan new build purchases, where contracts are exchanged before construction completes. The key consideration is mortgage offer validity — for off-plan purchases, you typically want a lender with at least 6–9 month offer length, ideally longer if the build is at an early stage. Halifax is widely regarded as one of the strongest lenders for off-plan because of its longer offer periods.
