A topic none of us like to dwell on but in reality, a major consideration for anyone looking to buy a New Build property: Many lenders now offer mortgage offer extensions on New Build mortgages should your purchasers encounter a delay. Each lender has a different process however, which could involve a new mortgage product, a new credit search/score, updated proof of income and/or employment checks. A major part of being a New Build Mortgage Specialist is our Helpline and Mortgage Advisers will liaise with you to establish the expected completion date and will place the mortgage with an appropriate lender, but we do not stop there. NHMH also have a dedicated team in the background to deal with potential offer expiries and this team monitor your build programmes and will automatically commence the extension process 1 month before expiry should it be required.
Mortgage Market Update – 4th May 2023