New Build Boost
If you’ve saved a 5% deposit, you could get a 15% interest-free boost* with this new mortgage scheme from Gen H, supported by Charles Church.
New Build Boost is a mortgage with an interest-free boost! If you have a 5% deposit, Gen H could provide an additional 15% interest-free equity loan to help you unlock the door to a beautiful new Charles Church home*.
Filling the gap left by the popular Government-backed Help to Buy scheme, Gen H’s New Build Boost gives homebuyers access to an 80% LTV mortgage.
How does the scheme work?
Let's take an example of a Charles Church new build that costs £250,000, and you’ve saved a deposit of £12,500 (5%).
If New Build Boost is available on this home, Gen H could provide a standard mortgage* of up to 80% (£200,000). The remaining 15% will be made up by an interest-free boost (equity loan), also from Gen H.
As the 15% loan is interest-free for the lifetime of the loan, it will boost your affordability and potentially increase the amount that you can borrow from Gen H, enabling you to buy your dream home.
What happens after 5 years?
The value of the boost is fixed for the first 5 years of your mortgage.
If you choose to keep the boost beyond the 5-year mark, the balance will move up or down to reflect any change in your property’s value since you bought it. It will then continue to go up or down as the property value changes over time.
Or, you can pay it back and switch to a standard mortgage product.
What should I do next?
Browse our new build developments to see which Charles Church sites are offering New Build Boost.
If you’re interested in one of these, visit the development webpage for more information and to contact our friendly sales advisors.
They’ll be able to arrange an appointment and determine whether you could use New Build Boost to get you moving.
Why choose New Build Boost by Gen H?
Gen H is a mission-driven mortgage lender that understands the challenges of affordability that many aspiring homeowners face.
That’s why they created New Build Boost – to help purchasers buy a house they might not have been able to afford, sooner than they might have thought!
FAQs
What is New Build Boost?
New Build Boost is a typical 80% LTV mortgage with a 15% deposit boost in the form of an equity loan. It’s provided by the company Gen H, and supported by Charles Church.
Who is eligible?
There are no extra eligibility criteria beyond the standard rules to qualify for a Gen H mortgage – simply put, New Build Boost is for buyers who need it. If you’d like to find out more about New Build Boost, speak to an independent financial advisor.
Can I use the scheme if I have a deposit bigger than 5%?
Yes, you will need a minimum deposit of 5% to use the scheme. The interest-free boost is fixed at 15% and the mortgage makes up the rest, so a maximum of 80%. There is no interest rate advantage of having a larger deposit, but you will have a smaller mortgage so your monthly payments will be lower.
Can New Build Boost help me buy my home?
Yes, subject to availability. If there’s a Charles Church home you love but you don’t have the standard 10% deposit that’s usually required and you qualify for a Gen H mortgage, you might be able to use New Build Boost to purchase that home.
Is the scheme available on all Charles Church homes?
New Build Boost is available on a limited number of plots at select developments. Check the list above to see if there’s a development near you where the scheme is available, or speak to the sales team at your development of interest.
*Subject to your mortgage application being accepted. Available only on new builds at selected developments.
T&Cs
New Build Boost is available on a limited number of plots at select developments.
New Build Boost is an equity loan, you may pay back more than you borrowed. Specific mortgage rates apply, speak to a mortgage advisor.
Eligibility is at Persimmon's discretion, is subject to receiving regulated advice from an approved mortgage broker and is ultimately subject to lender terms and conditions.
If you stop paying your mortgage, you could lose your home.
This promotion is approved by Imagine Mortgages Limited, t/a Gen H
Imagine Mortgages Limited, Trading as Generation Home and Gen H, is a company registered in England and Wales under number 11465987.
Imagine Mortgages Limited are authorised and regulated by the Financial Conduct Authority. Reference number: 921355. Address: 1 Old Street Yard, London EC1Y 8AF.