From Adviser Guide:
New Buy Mortgages 1hr
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.
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More in this guide
- Q: What is the NewBuy Guarantee?
- Q: Who is eligible for a NewBuy mortgage?
- Q: What properties are eligible for a NewBuy mortgage?
- Q: What are the pros and cons of NewBuy mortgages?
- Q: What are the FSA requirements for NewBuy advice?
- Q: What are the alternatives to a NewBuy mortgage?
- Q: How can I source the best deal?
- Q: What information will the lender require?