Mortgage for new build house

kissingthepink

Perhaps one of the mortgage advisers might know the answer to this question - is it possible to get a mortgage on a new build that does not have NHBC cover? I am not sure if NHBC cover is a condition for a mortgage by all lenders? If not do most insist on it?

Mr_helpful

yes its possible

toonfish

if it doesn't have NHBC or Zurich guarantee, or an architect's certificate you don't want to be buying it anyway - any one of these will satisfy the lender

kissingthepink

Mr_helpful wrote:

yes its possible

Is it a requirement of most lenders though?

kissingthepink

toonfish wrote:

if it doesn't have NHBC or Zurich guarantee, or an architect's certificate you don't want to be buying it anyway - any one of these will satisfy the lender

I know I would walk away. However, I am not buying. Instead my employer is building a house and we have a situation where the NHBC requirements contravene the planning permission (a variation will take about 3 months to get approved, if the council agree). The easiest solution would be a forego the NHBC cover on this house, but would this make it difficult to sell, or to mortgage?

toonfish

kissingthepink wrote:

I know I would walk away. However, I am not buying. Instead my employer is building a house and we have a situation where the NHBC requirements contravene the planning permission (a variation will take about 3 months to get approved, if the council agree). The easiest solution would be a forego the NHBC cover on this house, but would this make it difficult to sell, or to mortgage?

I think it could - when I bought my place there was no NHBC as the developer only built 2 - the lender insisted on a guarantee from the architect. As long as you can get this it will be fine.