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Mortgages for first time buyers

Mortgages on new build properties


With the Government funding various incentives for buying new build properties, lots of prospective buyers are looking to these kind of properties to make their homes; especially first time buyers. Finding a mortgage for a new build property can sometimes be a little trickier than if you were buying an older property but the mortgages that are out there often require a smaller deposit due to the various Help To Buy schemes currently available.

It can be a bit confusing but you don’t have to tackle the project alone – let TaylorMade find you the best deal on your new build property.

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Everything you
need to know…

Upfront Fees


Whether your new build property has been built or not, developers will often ask for a reservation fee to be put in place to secure your plot. This is non-refundable so if you decide against buying the property, or your mortgage application doesn’t complete in time or falls through, you will lose this fee.

Timescales


Time is often a factor when looking to buy a new build property. If your home has already been built, there’s usually a 28 day period to exchange legal contracts and to have a mortgage in place. With the usual mortgage application taking between 2-4 weeks it is essential to factor this in.

On the other hand, if you’re buying a plot that has yet to be built, you often don’t have to submit your full deposit until the property is near completion. This gives you time to continue saving for a bigger deposit which would significantly reduce your monthly repayments.

With a wealth of different incentives and schemes geared towards new build properties and first time buyers coming into effect, it can be a little overwhelming trying to figure out the best option to take.

If you’d like to get some expert advice on new build properties and the types of mortgages that would be most suitable; as well as up to the minute knowledge of all the latest government schemes available, contact one of our advisers at TaylorMade.

To ensure you get the best deal on the market, let TaylorMade give you a helping hand.

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Why choose
us?

We compare over 70 lenders

We compare over 70 lenders to ensure you get the very best mortgage deal suited to your lifestyle. We’ve been around for a long time and we know the mortgage providers inside out.

WITH YOU EVERY STEP OF THE WAY

We offer a personal concierge service so you will meet us face to face. Our expert mortgage advisors will provide you with all the information you need to make an informed decision.

There are no hidden fees

You will never pay more than 1.95% of the mortgage balance. Our average fee is 1% and the minimum fee you will pay is £1295.

We make it quick and easy

We can get you a mortgage in as little as two weeks. We’ll help you fill out all of the forms and will never put you forward for anything you are not likely to be accepted for.

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Talk to us

If you're unsure and need some advice just give us a call, our expert team of advisers are available to help you choose the mortgage that is right for you.

0345 305 2540 info@taylormade-finance.co.uk

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Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details: http://financial-ombudsman.org.uk

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TaylorMade Finance Ltd is authorised and regulated by the Financial Conduct Authority.

The Financial Conduct Authority does not regulate Will Writing and some aspects of estate planning. Buy-to-Let Mortgages and Secured Loans.

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.