New build Mortgages
We can help you get the keys to your shiny new home.
Lender’s criteria can change if the property is brand new. This may affect the maximum they will lend on the property or even any incentives from the builder (e.g. cashback) making the application unacceptable with certain lenders.
Once your situation has been understood, Kerr & Watson will make a recommendation for the most suitable mortgage continuing to work closely with you, the developer and solicitors from application to completion so exchange and completion deadlines can be met.
What is classified as a new build?
A property is generally considered new build if it has been converted or refurbished within the last two years.
How long does it take to get a mortgage offer on a new build?
The average time for a lender to issue an offer is around two weeks. This will include assessment of documents, underwriting and a valuation of the property.
How Long Does A New Build Mortgage Offer Last?
The amount of time on a new build mortgage offer will depend on the lender. A common amount of time is six months. However, some lenders offer longer periods such as nine or twelve months.
Mortgage Calculator
Calculate your borrowing potential with our affordability calculator.
Identify what your monthly repayments would be with our repayment calculator.
Confirm your Stamp Duty costs with our Stamp Duty calculator.
Your Mortgage In 3 Easy Steps…
Conversation
Schedule a call to talk to a mortgage advisor about your goals, challenges and vision for your mortgage.
Alternatively give us a call on 01252 224620 or email us on info@kerrandwatson.co.uk.
Research
We will take the information gained on the call and carry out some research before sending you a bespoke recommendation.
If you would like an agreement in principle, we’ll also arrange this for you.
Application
We will submit the full application to the mortgage lender, sending them the documents and liaising with the underwriters until the mortgage has been fully offered on the new interest rate.
We will also communicate with you at every stage, from application to completion.
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