From Adviser Guide: New Buy Mortgages
Q: How can I make sure my client gets a decision quickly?
The nature of the NewBuy scheme means not all builders will be working with all lenders.
It is important to ensure the builder is on the approved list for the specific lender and the application meets the requirements of the scheme:
• Property must be in England.
• Property value must be less than £500,000.
• Applicant must be a UK national or have indefinite leave to remain.
• The property must be the applicant’s main residence.
• The property must not be being purchased through a shared ownership or equity share scheme.