New Build Mortgages

Although you don't need a new build mortgage to buy a new build home, these mortgages are specifically designed to help solve some of the problems many new build buyers face.

New build purchases can take time to complete, particularly if you reserve the property in advance. Because of this, many new build buyers with fixed rate mortgages miss out on several months of the fixed rate period.

That's why our new build mortgages have an extended end date, which means you may have up to three months extra on your fixed rate period.

You can choose from applying online¹ (unless stated below), in branch or over the phone, and you can even use our mortgage calculator and get a decision in principle today.

Our New Build definition is a property built in the last 2 years awaiting first occupation.

Warning: THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

2.5 Year Fixed Rate New Build Mortgages

Initial rate fixed up to and inc. 31/01/21Then changing to the Society's SVR less a discount of 1.00%, up to and inc. 31/01/2024, (currently)Then the Society's SVR thereafter, (currently))Overall cost for comparison (APRC)Max LTVProduct Fee
2.39% 4.69%5.69%4.8%85%£0 View
Max loan amount £500,000
2.99% 4.69%5.69%5.0%90%£0 View
Max loan amount £400,000
2.59% 4.69%5.69%4.9%90%£999 View
Max loan amount £400,000
RATES CORRECT AS AT 18 June 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 2.5 years at 2.99% and then a 1.00% discount on our current Standard Variable Rate of 5.69% for 3 years and then on our current Standard Variable Rate of 5.69% for the remaining 19.5 years would require 30 monthly payments of £597.97, 36 monthly payments of £669.26 and 234 monthly payments of £725.97.

The total amount payable would be £211,045.31 made up of the loan amount plus interest of £91,010.31 and application fee £0, product fee £0, valuation fee £0.

The overall cost for comparisons is 5.0% APRC representative.

This representative example assumes a mortgage completion date 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.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
  • Taprered Early Repayment charges apply upto and including 31 January 2021
  • Interest calculated daily.
  • Free standard valuation up to £999.
  • These products are not available to interest only applications.
  • Only available for New Build properties.

5.5 Year Fixed Rate New Build Mortgage

Initial rate fixed up to and inc. 31/01/24Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
3.64% 5.69%4.9%90%£0 View
Max loan amount £400,000
RATES CORRECT AS AT 18 June 2018

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 5.5 years at 3.64% and then on our current Standard Variable Rate of 5.69% (variable) for the remaining 19.5 years would require 66 monthly payments of £609.25 and 234 monthly payments of £722.18.

The total amount payable would be £209,235.94 made up of the loan amount plus interest of £89,200.94 and application fee £0, product fee £0, valuation fee £0.

The overall cost for comparison is 4.9% APRC representative.

This representative example assumes a mortgage completion date 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.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

  • 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
  • Taprered Early Repayment charges apply upto and including 31 January 2024
  • Interest calculated daily.
  • Free standard valuation up to £999.
  • These products are not available to interest only applications.
  • Only available for New Build properties.