Attention: You need JavaScript enabled to use this site.
We use cookies to ensure that we give you the best browsing experience on our website. This includes cookies from third party analytics providers to help us understand how you use our site so we can continually improve. You can delete and block cookies, but parts of our site won't work without them. Manage Cookies
A new build property is a house or flat that has been built, or converted, in the last 24 months.
You might find some lenders charge a slightly higher rate of interest on some new build mortgages because they can be riskier than older properties. This is because the price of the property might fall in the early years.
You’ll also find some lenders ask for larger deposits for new build homes – but not us.
The good news is that we offer new build mortgages with just a 5% deposit.
Here at the West Brom we offer low deposit mortgages for new build homes.
We also offer low deposit mortgages for shared ownership new build homes. You can read more about how shared ownership works or, speak to one of our mortgage advisers for further information.
To find out more about our range of new build mortgages or if you just want to speak to one of our mortgage advisers, give us a call or request a call back.
For more information, take a look at the New Homes Quality Board's 'guide to buying a new build home'. open_in_new
End Date
Reversion Rate
Benefits
Early Repayment Charges
2.5% of amount repaid until 30/04/2027, followed by 1.5% of amount repaid until 30/04/2028 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
End Date
Reversion Rate
Benefits
Early Repayment Charges
2.5% of amount repaid until 30/04/2027, followed by 1.5% of amount repaid until 30/04/2028 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
End Date
Reversion Rate
Benefits
Early Repayment Charges
2.5% of amount repaid until 30/04/2027, followed by 1.5% of amount repaid until 30/04/2028 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
End Date
Reversion Rate
Benefits
Early Repayment Charges
2.5% of amount repaid until 30/04/2027, followed by 1.5% of amount repaid until 30/04/2028 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
End Date
Reversion Rate
Benefits
Early Repayment Charges
3.5% of amount repaid until 30/04/2027, followed by 2.5% of amount repaid until 30/04/2028, followed by 1.5% of amount repaid until 30/04/2029 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
End Date
Reversion Rate
Benefits
Early Repayment Charges
5.5% of amount repaid until 30/04/2027, followed by 4.5% of amount repaid until 30/04/2028, followed by 3.5% of amount repaid until 30/04/2029, followed by 2.5% of amount repaid until 30/04/2030, followed by 1.5% of amount repaid until 30/04/2031 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
End Date
Reversion Rate
Benefits
Early Repayment Charges
5.5% of amount repaid until 30/04/2027, followed by 4.5% of amount repaid until 30/04/2028, followed by 3.5% of amount repaid until 30/04/2029, followed by 2.5% of amount repaid until 30/04/2030, followed by 1.5% of amount repaid until 30/04/2031 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
End Date
Reversion Rate
Benefits
Early Repayment Charges
5.5% of amount repaid until 30/04/2027, followed by 4.5% of amount repaid until 30/04/2028, followed by 3.5% of amount repaid until 30/04/2029, followed by 2.5% of amount repaid until 30/04/2030, followed by 1.5% of amount repaid until 30/04/2031 plus interest to the date of redemption. Following the above period, interest will be charged to the date of redemption. You can make overpayments below £1,000 each calendar month without incurring early repayment charges.
*Initial estimated monthly payments are calculated based on the figures entered above on a capital and interest repayment basis.
**For owner occupier mortgages, the actual variable rate applied will be based on the value of your property relative to the outstanding mortgage balance (this is known as the Loan to Value (LTV)). However, this rate will never be higher than the Society’s Standard Variable Rate at that time. For further details about what happens to your interest rate when your mortgage offer period ends, click here.
We’ll instruct a mortgage valuation. This is for our own use only. The cost of the valuation is set out in the product features. Where you feel you need more information about the property including its condition, there are three additional types of survey available to you: Home Survey Level 1 (Previously known as a Condition Report), Level 2 (Previously known as a Home Buyers’ Survey) and Level 3 (Previously known as a Building Survey). You’ll need to decide which level is best for you. For further details please visit rics.org
Representative example
A mortgage of £300,000 payable over 35 years initially on a fixed rate for three years at 4.80% and then on our current standard variable rate of 6.24% (variable) for the remaining 32 years would require an initial payment of £2,580.67, 37 monthly payments of £1,476.01 and 382 monthly payments of £1,741.47.
The total amount payable would be £723,402.33, made up of the loan amount plus interest (£422,778.33), a completion fee (£499) and an account management fee (£125 - paid upon redemption).
The overall cost for comparison is 6.1% APRC representative.
This representative example assumes mortgage payments are made on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Whether you have a question or are ready to take the first step, we're happy to help.
0345 241 3785schedule 8:30am to 6:00pm Monday to Friday
schedule 8:30am to 12:30pm on Saturday
You can also request a call back or visit us in branch.
