First time mortgage for house not built?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
1 reply 865 views
ktcoilktcoil Forumite
559 Posts
Debt-free and Proud!
edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi We are currently renting and have out deposit ready to go for a house, we have seen a development with Gleeson homes that are currently being built and a lot are getting bought, can we take out a first time mortgage for a house not built yet?


thanks

Replies

  • JoeT88JoeT88 Forumite
    25 Posts
    hello,

    Yes you can, the mortgage commences when the property is built. this is all depending on time scales etc.

    The best thing to do is head into gleeson, get yourself set on a property after speaking to a mortgage advisor to see if its affordable i.e can you borrow that amount.

    Get a acceptance in principle
    Get a deposit down on the plot that you want
    then after that the list is long of things to do but you will be well advised by those at gleeson etc

    but yes is doable, and is what i am currently in process of doing :)
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