New build mortgages

A new build property is a house or flat that has been built, or converted, in the last 24 months.

Some new build mortgages are different

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.

Our new build mortgages

Here at the West Brom we offer low deposit mortgages for new build homes.

• We have a range of new build mortgages that only need a 5% deposit.
• You should check with housing developers as they often offer incentives which could help boost your overall deposit by up to a further 5%.
• Don’t worry if your new build home is delayed or takes a little longer to finish, as our new build mortgage offers are valid for 9 months.

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.