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New builds

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Application β†’ All guides

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A - Z of Application criteria
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Deposit sources
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Direct Debits
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Early repayment charges
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Expanded higher LTV criteria (95% LTV)
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Interest
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Loan to income multiples
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Loan purpose
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Loan size
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Location
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Maximum LTV
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Mortgage Term
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Offer validity
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Overpayments
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Payment holidays
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Porting
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Rate switches
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Remortgage & Additional Borrowing
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Repayment methods
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Adverse Credit
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Age
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Applicants
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Asylum Seekers
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Boosters
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Commitments & Expenditure
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Customer Verification
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Dependants
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Expat
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First-Time Buyer
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Home Movers
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Non UK Nationals
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Overseas applicants
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Owners
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Retirement
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Students
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Vulnerable Customers

Income and employment β†’ All guides

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A - Z of Income types
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Benefit income
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Contract workers
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Employed
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Foreign currency income
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Holiday Lets
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Minimum incomes
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Other income types
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Parental Leave
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Pay increases
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Pension
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Piecework
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Rental income
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Retirement income
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Self Employed
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Stipend Income
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A - Z of Property types
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A - Z of Purchasing schemes
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Bedroom count
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Construction types
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Current value
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Discounted purchase price
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Flood Risk
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Help to Buy
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Leasehold
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New builds
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New Build; Incentives & Part Exchange
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Property Charges
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Property values
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Retentions
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Tenure types
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Valuations

Packaging guide β†’ All guides

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Employed income
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Investment income
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Maintenance income
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Parental Leave
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Rental income
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Self-employed income
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Sole traders income
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Address verification
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Additional support
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Identification
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Miscellaneous
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Occupier’s consent
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Proof of deposit
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Retirement plans and pension

Completions

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Conveyancing
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ILA

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Privacy notice

New builds

New Build Developments and Conversions

New Build developments are properties (houses and block of flats) built and converted, or first occupied within the past 24 months.

Stage payments on New Build properties are not accepted.

Converted Flats

If the flat/maisonette has been converted or first occupied in the past 24 calendar months, it is considered a new build from the date of conversion or first occupation.

For information regarding New Build loan specifics and additional criteria, refer to the Maximum LTV page:

If the flat/maisonette has been converted in the last 10 years, it must have the benefit of an acceptable New Build Warranty of Professional Consultants certificate in standard CML format (see acceptable list of warranties below).

New Build Certificates

For any property built or converted within the last 10 years one of the following certifications will be required:

  • National House-Building Council Buildmark Scheme (NHBC)
  • Zurich Municipal Newbuild Scheme
  • Zurich Municipal Rebuild Scheme
  • Premier Guarantee for Private and Completed Housing
  • Build Assure (FMB)
  • Building Life Plans Scheme
  • Buildzone
  • LABC Warranty
  • LABC Warranty Scheme
  • ICW Warranty Scheme
  • One Guarantee Warranty Scheme
  • Castle Ten / checkmate
  • Global Home Warranties
  • Protek
  • Q Assure
  • Advantage HCI
  • UK Finance Compliant Professional Consultant’s Certificate (Where the Professional Consultants acceptable qualifications and indemnity cover are checked by the solicitor in accordance with the UK Finance Mortgage Lenders’ Handbook 6.7.4. - The Architects Certificate must be completed on Professional Consultant’s Certificate Format which is available on the CML website (www.cml.org.uk/handbook))

New Build Valuations

Valuations can be assessed using the floor-plan provided by the Builder and also the plot map. The market value is derived from that plus comparable property information. A re-inspection may be required where;

  • there are significant changes from the floor plan reviewed by the valuer
  • it has been specified by the valuer within the original valuation report