New build clients could borrow more
27/06/2025
On Friday 27 June, we improved our new build affordability policy. It’s great news for your home mover and FTB clients as it could allow them to borrow more if they’re buying a new build home.
Here’s an example:
- Joint application with 2 dependants.
- Buying a new build home for £430,000.
- Mortgage term of 30 years.
- Earning £45,000 and £33,000.
In this example, your client could borrow an extra £5,110 when taking a 2 year fixed rate. Or an extra £5,671 when taking a 5 year fixed rate. Subject to loan to income thresholds.
Pipeline rules
All full mortgage applications (FMAs) submitted by 10pm on Thursday 26 June aren’t affected by these changes.
Any FMAs submitted from 6am on Friday 27 June will be assessed using our new lending policy.
If a material change is made to an existing application from 6am on Friday 27 June, the case will be reassessed using our new lending policy.
And don’t forget we already have….
New build offers valid for 9 months
We know things don’t always go to plan, so our new build offers are valid for 9 months if your client takes a product from our new build range. These products also come with a 9 month completion deadline.
Our New Build Desk
Claire and Ste in our New Build Team are here to help keep your cases moving. If you need to get in touch about a new build case, call us on 0800 085 1329 or email newbuild.team@santander.co.uk.
Help and support
We’ve updated our affordability calculator, residential lending criteria and other information on our website to reflect these changes.