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Mortgage for new build house

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?:confused:

Comments

  • Mr_helpful
    Mr_helpful Posts: 3,233 Forumite
    yes its possible
    I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)
  • toonfish
    toonfish Posts: 1,260 Forumite
    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 am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • Mr_helpful wrote:
    yes its possible

    Is it a requirement of most lenders though?
  • 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
    toonfish Posts: 1,260 Forumite
    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.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



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