Cashback Remortgages · First-time buyers
New-Build Timelines for First-Time Buyers
New-build purchases run to the developer's timetable, which can clash with a mortgage offer's validity period. Managing the timing is key for a first-time buyer.
Deadlines to watch
Developers often set reservation and exchange deadlines, while a mortgage offer is valid for a limited time. If a build completes later than the offer lasts, you may need an extension or a re-offer.
Disclose any builder incentive, as it can affect the lender and conveyancer.
Stay ahead
Apply promptly, keep documents ready and keep your adviser informed of the developer's schedule so an extension can be arranged if needed.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.