New Build Remortgage
- Access to over 100 lenders
- Access to exclusive deals not available on the high street
- Range of products to suit both personal and business needs
What's On This Page?
Get In Touch
New Build Remortgage
Why remortgage my new build property? What are the reasons for remortgaging?
You might remortgage your new build property to get a better interest rate, reduce monthly payments, release equity for things like home improvements, or switch to a more flexible product.
Other reasons include consolidating debts into a mortgage, or moving to a lender with more suitable terms once your initial deal has expired.
How does remortgaging for a new house work? How long do you have to own a property before you can remortgage?
Remortgaging a new house works much like remortgaging any property. You switch to a new deal, either with your current lender or a different one, often to get a better rate or release equity.
With new builds, lenders will be stricter on deposit sizes and property details, but the process is the same. You generally need to own a property for at least six months before most lenders will allow you to remortgage.
Can you remortgage a new build with no proof of income?
No. Lenders almost always require proof of income via payslips, tax returns or other evidence. Mainstream lenders won’t approve a remortgage without income verification.
How can I better my chances of a good remortgage?
You can improve your chances by being well-prepared, and having recent payslips or tax returns, bank statements and your current mortgage details ready.
Keep your credit score healthy, pay your bills on time, reduce debts, and know your property value with an up-to-date estimate. Using a broker can also help match you with the most suitable lender and deals.
Speak To an Expert
What are the benefits of remortgaging?
The benefits can include getting a lower interest rate, reducing monthly payments, releasing equity for cash, consolidating debts into one payment, and avoiding higher costs when your current deal comes to an end.
How can a mortgage broker help here? Is there anything else we need to know?
A broker can guide you through the paperwork and advise on special requirements for new builds or for first-time buyers.
We can also explain government schemes, help you manage timing if you’re buying off-plan, and save time by handling the application on your behalf.
It’s well worth choosing a broker with experience in new builds, as they’ll know which lenders are the most flexible and how to avoid delays.
Key Takeaways:
- You generally need to own a new build property for at least six months before most lenders will allow you to remortgage.
- Reasons for remortgaging include: securing a better interest rate, reducing monthly payments, releasing equity for home improvements, or consolidating existing debts.
- While the process is similar to remortgaging any property, lenders are typically stricter on deposit sizes and property details for new builds.
- Mainstream lenders almost always require proof of income via payslips, tax returns, or other evidence, and will not approve a remortgage without income verification.
- A mortgage broker can advise on special requirements for new builds, find the most flexible lenders, and handle the application process to save you time.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE SOME FORMS OF BUY TO LETS.
THERE MAY BE A FEE FOR MORTGAGE ADVICE. THE PRECISE AMOUNT OF THE FEE WILL DEPEND UPON YOUR CIRCUMSTANCES BUT WILL RANGE FROM £99 TO £999 AND THIS WILL BE DISCUSSED AND AGREED WITH YOU AT THE EARLIEST OPPORTUNITY.
ASSET HARBOUR MORTGAGE AND PROTECTION LIMITED TRADING AS ASSET HARBOUR MORTGAGE AND PROTECTION ARE AN APPOINTED REPRESENTATIVE OF HLP PARTNERSHIP LIMITED, WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
ASSET HARBOUR MORTGAGES & PROTECTION LTD ARE REGISTERED IN ENGLAND AND WALES. REGISTERED NO: 11945863. REGISTERED OFFICE: 54A CHURCH ROAD, ASHFORD, MIDDLESEX, UNITED KINGDOM, TW15 2TS.
Useful Links
- Remortgage
- How Soon Can You Remortgage Before Your Fixed Rate Ends?
- Product Transfer Mortgages
- Remortgage When Self Employed
- Bad Credit Remortgage
- Remortgage To Release Equity
- Remortgage to pay off Help to Buy
- Remortgaging for Home Improvements
- Remortgage of an Unencumbered Property
- New Build Remortgage