New build

Specialist support to help you

We’re committed to supporting the new build market and helping your clients buy their new build home.

We understand you’re often up against challenging timescales when it comes to new build. That’s why we have a dedicated team of New Build Specialists to help keep your cases moving.

How our New Build Team can help

Our New Build Specialists will work closely with you to ensure your cases complete on time. They’ll:

  • manage pipeline cases that can’t be dealt with through your usual dedicated sales contact,
  • escalate and take ownership of any urgent cases, and
  • deal with any complex new business enquiries.

For all general new business enquiries please continue to speak to your dedicated contact.

How to contact the New Build Team

Telephone   0800 085 1329

Email    newbuild.team@santander.co.uk

Key criteria

Definition

We define new build as any of the following:

  • Property build/converted within the last 12 months based on the date of the completion certificate.

Additionally, where the build or conversion was completed more than 12 months ago, new build policy applies where the property:

  • has not been previously occupied (for converted properties that means since the conversion was completed); or
  • is being sold/marketed by the builder or developer and has not been occupied as a residential property*; or
  • has not been previously used for residential purposes e.g. within a development that was once used for commercial or other use.

* Properties where the builder/developer purchased from an owner under part exchange offer and is now selling are not new builds. We cannot accept these where sold with sales incentives.

 

New build LTVs

  Residential  Buy to Let Shared Ownership Help to Buy: equity loan
House 85% 75% 85% 95% 
(75% mortgage + 20% equity loan)
Flat 80% 70% 80%

 

 

New build warranty

We'll accept a new build property if it’s built under an approved scheme in accordance with requirements in the UK Finance Mortgage Lenders’ Handbook in the ‘New Properties – Building Standards Indemnity Schemes’ section. The schemes we accept include:

  • NHBC Buildmark
  • Premier Guarantee (New Homes; Self Build; Completed Housing)
  • BLP (Building Life Plans) residential housing warranty insurance (BLP Secure; BLP Secure Plus)
  • BOPAS (Build Offsite Property Assurance Scheme)
  • LABC Warranty (New Homes; Self Build; Completed Housing)
  • Build Zone 10 year warranty (New Home; Self Build; Completed Housing; Basic)
  • Checkmate New Home Warranty (Castle 10; Knight 10)
  • CRL Structural Defect Insurance
  • Build Assure New Homes 10 year structural Defects Insurance
  • Global Home Warranties 10 year Structural Defect Insurance
  • Q Assure Build (Q Policy for Residential Properties)
  • Advantage (AHCI Latent Defects Insurance Policy)
  • Aedis Structural Warranties (New Build 10; Self Build 10)
  • Capital Warranties (New Build; Self Build; Completed Housing)
  • International Construction Warranties (ICW Residential New Build UK)
  • Protek (New Home; Custom Build; Self Build; Completed Housing)
  • Ark Residential New Build Latent Defects Scheme.

Offer validity

We have products that are valid for nine months whilst our standard mortgage offers are valid for six months from date of issue or up to the product completion deadline, whichever comes first. Therefore, we'll consider an offer extension subject to the following:

  • Any necessary supporting documentation is updated and resubmitted.
  • We're notified of any change in circumstances.
  • The case is re-decisioned and is still acceptable to us in line with our current mortgage lending policy.
  • A new credit search and affordability assessment.
  • A new product will need to be selected if completion deadline has expired.
  • An updated property valuation.

Acceptable incentives

Builders may offer sales incentives to prospective buyers to encourage them to purchase their properties.  An incentive is anything the builder gives or provides to the buyer in cash or goods. The table below shows the incentives we’ll accept.

 

Standard
new build

Help to Buy:
equity loan

Cash incentives up to the value of 5% of the purchase price of the new build property (no financial limit)

Yes

No

Reasonable non-cash incentives/option vouchers provided by the builder if they have no cash value e.g. upgrade to the property’s fixtures and fittings or additional white goods

Yes

Yes

Stamp duty paid (no financial limit)

Yes

Yes

Applicant's reasonable legal fees paid for the purchase of the new build property

Yes

Yes

Please note, we don’t accept new build applications where any part of the applicant’s deposit will be raised from an unsecured personal loan which is subsidised by a builder or developer.


Our latest new build products

Our mortgage range for new builds has extended nine month completion deadlines.

Find out more

Help to Buy: equity loan scheme

Find out more information about our key criteria and evidence requirements.

Find out more

Stamp Duty Land Tax calculator

Use the HM Revenue & Customs calculator to work out the stamp duty amount your client needs to pay.

Find out more