Your mortgage options

A fixed-rate mortgage has a set interest rate for a specific period, meaning your payments stay the same throughout that time, offering stability. A variable-rate mortgage has an interest rate that can change over time, so your payments may go up or down depending on market conditions, offering more flexibility but less predictability.

Yes, you can reserve a new build with us without having a mortgage already in place, but we do recommend that you at least have a mortgage in principle to demonstrate your ability to finance the purchase.

New build mortgages work similarly to regular mortgages, but they’re specifically for homes that are newly built or still under construction. While some lenders may ask for a larger deposit and a valuation, other lenders also offer special deals for new builds such as longer mortgage offers or lower interest rates. 

With a new build, you typically start paying your mortgage once the property is complete and you’ve officially moved in. However, if you're buying off-plan, you may be required to make payments during the construction process, like a deposit or interim payments.

Mortgage rates for new builds aren’t always higher, but they can be in some cases. Lenders may charge slightly higher rates if the property is seen as harder to value, especially if it’s part of a new development. However, many lenders offer lower rates for new builds, so it’s worth shopping around to find the best deal.

For a new build, you'll typically need a deposit of at least 5% to 10% of the property's value, similar to buying an existing property.

Yes, it’s possible to get a 90% mortgage (meaning you’d need a 10% deposit) on a new build, depending on the lender and your financial situation.