We Make New Build Mortgages Simple to Understand and Access
New build mortgages are loans specifically designed for individuals looking to purchase a brand-new home or off plan (one that is yet to be built). With no buying chain and affordable buying options, it’s a popular choice for first-time buyers.
Your mortgage options can be different from traditional mortgages because they are tailored to the unique circumstances of buying a brand-new home. A deposit for a new build will typically be around 15%, although more and more lenders are starting to offer mortgages with as little as a 5% deposit.
There is also the option to buy through an Own New Rate Reducer Scheme, which enables you to pay a lower mortgage rate.
As a whole of market broker, we work alongside a wide range of banks and lenders, such as Halifax, Accord Mortgages and Nationwide, to help you get a mortgage that works for you.
Below are some of the lenders we deal with, however we have access to the whole of the market, including exclusive deals that you won’t be able to find yourself.
How Can Agentis Financial Help You?
Agentis is the trusted mortgage broker Peterborough, for first-time buyers in the UK. Whether you want to learn more about different types of mortgages for first-time buyers or government-backed schemes, we’re the name you can trust for professional, Whole of Market mortgage advice.
When you sit down with one of our first-time buyer mortgage advisers, you’ll be encouraged to put down between a 5-20% deposit on your home. We recommend putting more than 5% down on your property, so you can enjoy a cheaper interest rate on your mortgage payments. To apply for a mortgage, you’ll need to prove to a lender that you can afford and continually make monthly mortgage payments even if interest rates rise or the unexpected happens. Contact us with any questions or concerns and let’s get the conversation started today. We can help you save money as a first-time buyer!
What Our Customers Think
Timothy Lawrie2024-04-18I cannot praise Agentis highly enough. Service above and beyond, all done with understanding and friendly know how. AmazingAsher2024-04-18We have just received a mortgage offer on our first property & had the pleasure of Ash Hinds being our mortgage advisor. Ash was very helpful throughout the whole process & was never too busy to answer a query or concern, going over and beyond. As first time buyers we did need a lot of stuff explained to us & Ash was more then happy to do that & make sure we understood the pros & cons of different options. I would definitely recommend Ash to anyone who needs a Mortgage Advisor 5 star service!Sarah Worsley2024-04-17Ash is a fantastic broker, who empathised with my unique situation and was very supportive and encouraging. He secured a very good deal for us, and was always there to answer questions. I would highly recommend him!Agne Rusalovskytė2024-04-15Adam was very helpful as always.Jonathan Knox2024-04-15I recently had the pleasure of working with Josh at Agentis for my remortagage, and I couldn't be more impressed with the service I received. From start to finish, the entire process was smooth, efficient, and incredibly quick. Josh's expertise and professionalism were evident from our very first interaction. He took the time to understand my financial situation and goals, providing personalized guidance every step of the way. His knowledge of the mortgage industry ensured that I got the best possible deal tailored to my needs. What truly stood out to me was the speed at which Josh worked. Despite the complexities involved in securing a mortgage, he made the process seem effortless. Communication was prompt and clear, and I always felt informed and supported throughout. If you're looking for a mortgage broker who is efficient, knowledgeable, and committed to providing exceptional service, look no further than Josh at Agentis. You won't be disappointed. Thank-you.Bob Green2024-04-08Lee was great to work with, always keeping us updated and available whenever we needed. Lee often provided updates before our solicitors and estate agents. He was very knowledgeable and helped explain all steps of the process. I would 100% recommend both Lee and Agentis.Johnsy Raju2024-04-06Caren arranged our first mortgage, and she was fantastic with us! She demystified the entire house buying process for us, which can be a minefield. Caren helped us know how much we could spend on a home and how much of a mortgage we could afford, and achieve. She was able to give us a step-by-step plan, which really helped ease our anxiety. Caren also looked through home reports of homes we were looking into, to let us know of any issues that we might run into - this is very helpful, as the language can be impenetrable! We would recommend anyone looking to buy a home contacting Caren first. Thank you soomuch Caren @agentis for the wonderful help.Nesta2024-04-03We had Adam Long as our mortgage broker. He was amazing from start to finish throughout the entire process. Very good at explaining the whole process, very knowledgeable and professional. We couldn’t recommend a better mortgage advisor! Thanks Adam!Adrian Woolley2024-04-03Caren was informative, contactable and managed to get a mortgage when I feared I couldn’t. Thank you.Jodie Tyers2024-03-27Anton Sgroni was absolutely amazing at sorting out our remortgage. Any problems he sorted out straight away and was able to keep us updated along the way. This is the third time we have used Agentis and we can not fault them! Always a great service and lots of helpful advice and information is provided to get the best deal
New Build Mortgages Explained
This type of mortgage has different requirements and terms compared to traditional ones for existing properties. One of our expert brokers will be able to provide straightforward advice to help you secure your new home with the right scheme or loan.
How much you can borrow will depend on a variety of factors, such as your income, credit score, and the lender’s criteria.
They can be a great option for first time buyers looking to purchase a modern and energy-efficient property and make their first step on the property ladder. But it is also important to carefully consider all the intricacies involved in the process before making a decision.
Plan your Mortgage the right way
Get in Touch
The New Build Mortgage Process
The process for securing a loan for a new build will involve applying for a mortgage with a lender and providing necessary documentation, such as proof of income and credit history. Once approved, the lender will disburse the loan amount, allowing you to complete the purchase.
It’s important for borrowers to carefully consider their financial situation and the terms of the mortgage. Working with a knowledgeable mortgage broker can help simplify the process and ensure a successful outcome.
Peterborough Property News
The property market in Peterborough is thriving with new developments, making it an exciting place for buyers and investors. Find out more about buying new build and shared ownership properties in and around Peterborough.
Need further help? Speak to one of our friendly advisors, who can help point you in the right direction for getting on the property ladder.
Frequently Asked Questions
Got a question? We’ve answered the common FAQs we get around new build mortgages below. If you need further help, don’t hesitate to get in touch with us.
How much deposit do I need for a new build?
Lenders typically offer different loan-to-value ratios for new build mortgages, depending on whether you are purchasing a flat or a house. For example, Nationwide may provide a maximum 75% LTV mortgage for new build flats, requiring a 25% deposit, while offering up to 85% LTV for new build houses with a 15% deposit. However, these ratios can vary among different lenders.
Can you reserve a new build home without a mortgage?
Yes, it is possible to reserve a new build home without a mortgage in the UK. When reserving a new build home, developers typically require a reservation fee to secure the property for a certain period of time. This fee is usually non-refundable and can vary depending on the developer and the property.
Are interest rates different for new build mortgages compared to existing properties?
Interest rates are typically competitive and can be similar to those for existing properties. However, it’s essential to compare rates and terms from different lenders to find the most suitable option for your specific circumstances.
Can I secure a new build mortgage before the property is finished?
Yes, some lenders offer new build mortgages with early commitment or reservation options. This allows you to secure a mortgage offer before the construction is complete, providing peace of mind during the buying process.
Can I use a government-backed Lifetime ISA for a new build mortgage?
Yes, a Lifetime ISA can be used towards the purchase of a new build property. These savings accounts offer government bonuses that can contribute to the overall deposit or purchase costs.
Related Articles
Want to know more about the different types of mortgages and how they work? Discover advice, top tips and how-tos from our mortgage and protection experts in the Mortgage Advice Hub.
From first time buyers to equity release, our advice hub is designed to answer all the top questions that property owners want to know. From preparing you for your initial consultation with a mortgage advisor right the way through to becoming a proud property owner and beyond, we’ve got you covered.
For jargon-free answers on all things mortgages, browse the sections you’re interested in below.
