FTB New Build Process?

kingstreet

Thanks for that Greg.

I took a call today and the potential purchaser was given no indication from her non-newbuild broker that;-

lenders take the future cost of the equity loan into account at the outset

the ground rent & service charges on the flat affected borrowing power

some lenders limit newbuild cash incentives depending on your deposit for HTB Equity Loan cases

where the completion date is over six months away some lenders are easier to get a new offer from than others.

Newbuild is as specialised a mortgage market as that for contractors and adverse credit and potential buyers do well to remember that.

SAMFOB

Thank you all so much for your input. We actually don't know anyone but a couple of colleagues who own their own home, and no-one who's ever bought a new build before, so your advice is invaluable.