Deposit Match on a New Build

Moglet

Does anyone know which lenders are accepting a 5% deposit match on a new build.

This is a non first time buyer but they dont' currently own any property.

I believe 90% are available but only for first time buyers OR not a new build.

What about 85% - 10% from purchaser and 5% from builder? (remembering it's a new build and non first time buyer).

Thanks!

BadgerFace_2

I believe Abbey and The Skipton may be candidates for 90% on a new build with a vendor gifted deposit. But as you say, they may be for FTB only...BUT you may, for the purposes of a mortgage, be classed as FTB, because you don't currently own a house.

Moglet

Thanks. I've spoken to New Homes Mortgages helpline who are quite insistant that lenders won't consider someone who had been named on a mortgage previously as a first time buyer.

I'd have thought they could class you however they choose, it's HMRC and stamp duty that you can't argue with.

Just out of interest then, when looking at a lender's products - which option does a non first time buyer fit into? They're not a first time buyer, they're not remortgaging and they're not moving home in the sense they have a property to sell first.