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Need help securing a mortgage for a new-build property, such as a house or flat? Then simply call one of our mortgage repayment experts today!
New-build mortgages
Donkey Finance is a leading mortgage provider with unrivalled access to more than a hundred different lenders, ranging from mainstream providers such as high-street banks to a select panel of private investors who will consider any type of mortgage imaginable.
If you are looking to buy a new-build home, then the type of mortgage you require will be somewhat different from a standard residential product, and you may struggle to find suitable funding without professional help from an independent mortgage expert such as ourselves.
Many of the new-build mortgage products we offer are quite simply unavailable through mainstream channels, so if you are interested in buying a brand new home from a developer and you need swift access to a competitive deal, then get in touch with one of our FCA-regulated and approved advisors today and enjoy the most competitive interest rates on the market with the lowest available borrowing costs.
More and more people are going with new builds
It is common knowledge that the UK housing market is in a bit of a fix right now, with the demand for residential property far exceeding supply. For this reason, the government has introduced a number of initiatives that have been designed to help prospective homebuyers onto the property ladder while supporting developers at the same time.
When purchasing a new build, you will often have the opportunity to pick and choose the fittings and fixtures yourself, meaning everything will be completely tailored to your personal tastes and preferences before you even move in. You will also enjoy a number of bonus incentives and developer guarantees for your added benefit and peace of mind.
If you are attracted to the thought of buying a brand new home that nobody has ever lived in before, a new-build mortgage can help you realise your dream. Unlike traditional mortgages, new-build products often need to be arranged much more quickly, so once you have put down a deposit on a property you are interested in, you might find yourself having to secure the rest of the funds necessary to complete the purchase in as little as 28 days.
At Donkey Finance, we can work incredibly swiftly in order to ensure your application is accepted and approved in a matter of 2 to 3 weeks. In some cases, we can even use our own funds while a more permanent funding solution is put in place. We can also provide short-term bridging loans, which can be used to release the equity in your current home before a suitable buyer is found.
Borrowing for a new build property
In the case of new-build houses, most lenders will offer LTV ratios of up to 85%. However, if you are looking to purchase a new-build flat or self-contained apartment, the maximum LTV is usually 75%.
Of course, the actual loan-to-value ratio can vary significantly from one lender to the next, but if you are struggling to raise the deposit and you have an existing property to use as collateral, we will find an appropriate solution on your behalf. Simply talk to one of our FCA-regulated experts for free and impartial help and advice.
For a quick idea of how much you can borrow on a New Build mortgage, use the calculator provided.
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