We believe that homeownership should be an opportunity for everybody – but for aspiring homeowners or movers with small deposits and little or no financial help from their families or friends, there's almost no support available from the government or other lenders.
New Build Boost changes that.
New Build Boost is a mortgage scheme designed to help first-time buyers and home movers with small deposits buy the new build home they want. It’s supported by builders and only offered by Gen H.
New Build Boost is made up of 3 parts.
You bring at least a 5% deposit
You take out up to an 80% LTV mortgage with Gen H
We give you a 15% interest-free boost to close the gap
The exact deposit and mortgage amounts can change proportionally, but the 15% interest-free boost is fixed.
The boost is an equity loan which is frozen for the first 5 years. That means you’ll only pay back what you borrowed if you repay your boost in the first 5 years. After that, the value of the boost will rise and fall with the value of your home – but the amount you have to pay back for your boost is capped at 2x what you borrowed.
The boost is supported by builders, and is interest-free forever.
New Build Boost has its own dedicated mortgage rates. You’ll need to work with a broker who is registered with the builder you’re buying from. Learn more on our website.