New Build First Time Buyer
We are new build experts. If you would like to work with us please contact us here
Being a First Time Buyer can be an exciting time, but also a time where it is important to ensure you have knowledge sources to help you make the best decision for you.
That’s why you need a broker who is going to hold your hand through the process and guide you until that exciting day when you put your key in the door of your beautiful brand-new home!
Here at The Mortgage Mum, we have worked with clients on multiple new build purchases, and every single one is different. We recognise how unique your journey is to you, and we’re here to support and guide you through it.
When buying a New Build it is important to remember that there are many options available to you to consider.
Here are some of the current schemes that could support you with your new build purchase:
Shared Ownership
The shared ownership scheme makes it possible to buy a share of the property. As your mortgage only has to cover the portion you buy, both the deposit your monthly repayments are much more affordable. Bear in mind, however, that you will need to pay rent on the remaining share of the property.
For more information on Shared Ownership click here
The Deposit Unlock Scheme
The Deposit Unlock scheme allows you to buy a new build home with a 5% deposit. The home has to be from one of 32 house builders and mortgaged with a participating lender. There’s a maximum loan amount of £750,000 and it cannot be used on a Buy to Let property.
With the Deposit Unlock scheme, there are no additional affordability checks, it’s all about the property that you are purchasing.
For more information on The Deposit Unlock Scheme click here
Speak to an expert
We will work at times that suit you and your family, carrying out appointments via video call, telephone or email, giving you the benefit of first class service, around your own schedule, and in the comfort of your own home. So let us handle your mortgage today and find out how well we can look after you, The Mortgage Mum way!
First Home Schemes
Certain new build sites are part of this scheme, where homes are sold with a significant discount. Key workers and local residents usually get priority.
For more information on The First Homes Scheme click here
Save to Buy Scheme
This new scheme lets First Time Buyers move into a home and pay a fixed ‘rent’, which goes towards a deposit to buy the property. The scheme is currently available in London and Essex, but is set to roll out wider.
For more information on The Save to Buy Scheme click here
Discount Market Value
Some housing schemes make a commitment to sell properties with a discount on their market value, which could be 25% or 50%. The discount also applies when you sell the property.
For more information on The Deposit Unlock Scheme click here
For more information on the government-backed affordable homeownership options:
https://www.gov.uk/affordable-home-ownership-schemes
https://www.ownyourhome.gov.uk/all-schemes/
Want to find out how we can help with your New build? Click here
To find out more about our team click here
Why The Mortgage Mum
- We're a team of mums who understand the juggle
- We're all expert advisers with a wealth of experience
- We work around you and your schedule
- We're here to make the mortgage journey easier for you
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