New build
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Steven Hargreaves explains the new build mortgage process — in just over ten minutes.
New build mortgages
Not particularly — it’s no more difficult than a second-hand home. The criteria differ slightly: fewer lenders offer 95% loan to value (LTV) on new build houses. For new build flats, lenders generally offer around 85–90% LTV, compared with up to 90% (sometimes 95%) on existing flats.
The application process is very similar — payslips, bank statements, proof of deposit and ID.
After you submit your documents, the valuer visits the property — even if it’s still just foundations. The lender then issues an offer. Many lenders provide longer offer periods for new builds, since construction and completion can take six to twelve months.
How much you can borrow is the same as for a second-hand home — typically around four times income, and up to six times with some professional mortgages.
The difference is the percentage lenders will lend: some go to 95% LTV on new build houses, but most offer 90% on houses and 85% on flats.
Builders often offer incentives, depending on supply and demand. If homes are selling slowly, you may be offered free legal fees, a free valuation, stamp duty paid, or extras like carpets and curtains.
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Our advisers are experienced in a wide range of clients, needs and property types — so you can be confident of quality service and sound advice.
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Why Energise Mortgages?
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The Deposit Unlock scheme lets you buy a new build with a 5% deposit through participating lenders and builders.
Many builders also offer shared ownership, where you buy a share of the property, pay a mortgage on that share and rent on the rest. Shared ownership is only available on new build homes.
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The pros: nobody has lived there before, and you choose your kitchen, bathroom and colour scheme. The cons: new builds tend to cost a little more than a comparable older home, are often slightly smaller, and usually come with smaller gardens.
Liaise with the developer on build dates so your mortgage fits around them — delays can happen, for example in bad weather.
Related guides
Your home may be repossessed if you do not keep up repayments on your mortgage.
The Financial Conduct Authority does not regulate some buy to let mortgages.
Meet the adviser
There’s more to me than just mortgages. I also have a love for the countryside and a unique venture — my alpaca farm. Nestled in the countryside near York, my alpacas are not just my furry friends, but also a testament to my dedication to diverse interests.
Alpacas, much like mortgages, require careful attention, understanding and a keen eye for detail. Just as I meticulously evaluate mortgage options, I apply the same diligence to caring for my herd — a blend of financial acumen and agricultural expertise that sets me apart.
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Google reviews
“I had a fantastic experience with Steven as my mortgage broker. He was professional, knowledgeable and incredibly helpful throughout the whole process.”
Arnaldo KB
Google review · August 2026
“Steven gets it. He’s been round the block and knows all the things you hire a mortgage adviser for. It’s a no-brainer — save yourself time, money and effort.”
Matt Chappell
Google review · August 2026
“Working with Steven was easily the best decision we made during our home-buying journey. As first-time buyers, he made the process feel simple.”
Kirsty
Google review · August 2026
