A new-build mortgage is not just an income and a deposit. Lenders ask who is building the home, which warranty covers it, whether money is held back until the build is signed off, and how any incentive changes the price they will lend against. We go through that list against the reservation, rather than discovering it at underwriting.
- NHBC, Premier, LABC or another warranty a lender will accept
- Retentions and stage payments, and who holds the money
- A valuation based on the price after incentives, not the headline price
- Plots, apartments and houses are not all on the same lender list