We don’t lend on new build developments where incentives paid to the purchaser are more than 5% of the purchase price.

Where incentives are less than £2,000, the incentive is allowed with no change to lending.

Where incentives are greater than £2,000 but no more than 5% of the purchase price of the property, the value of the incentive will be deducted from the property value when calculating the LTV.

We class any items supplemented by the developer or vendor as incentives, including contributions to deposits.