We don’t lend on new build developments where incentives paid to the purchaser are more than 5% of the purchase price or property value (whichever is lower).

Financial Incentives

Financial incentives (as defined in the UK Finance Disclosure Form) such as payment of stamp duty, vendor deposit, legal fees being paid or cashback must be included as an incentive.

Non-financial Incentives

Property Related: If the incentives are property-related but moveable (such as furniture), this must be included as an incentive. If they are not moveable (such as kitchen upgrades, integrated appliances, landscaping, or fitted floor coverings) then these do not need to be considered as an incentive.

Non-Property Related: If the incentives are non-property related (such as a free car or holiday) then this must be included as an incentive.