For the most part, applying for a mortgage is the same regardless of whether your home is newly built or a historical gem.

However, there are a few things to think about when buying a new build property. Gen H considers a property a new build if it was built or converted in the last 24 months.

Buying a new build off-plan (before it’s built) is common. But it's worth considering how long your mortgage offer is valid and when the property will be completed.

At Gen H, our mortgage offers are valid for 180 days.

Because of this, we recommend starting your Gen H application no more than 6 months before your new home is ready and you can complete the purchase.

If the mortgage offer does expire, we would need to start a new application. Please note, that a new application will be subject to products available and criteria applicable at that time.

For a new application, up-to-date verification documents, valuation, and independent legal advice (if you have a booster) will be required. You can learn more about how to get a new mortgage offer here.

Some property developers will offer to pay buyers' Stamp Duty or legal fees. This is because a developer would much rather offer an incentive than reduce their purchase price.

It's worth noting that lenders will take account of any developer incentives when considering your mortgage.

At Gen H, we will not lend against New Build developments where incentives paid to the purchaser are more than 5% of the purchase price.

For any property built or converted within the last 10 years one of the following certifications will be required:

Please reach out to us on live chat, or via email if you have any questions.