{"id":15821,"date":"2018-04-25T10:15:54","date_gmt":"2018-04-25T09:15:54","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=15821"},"modified":"2018-04-25T10:15:54","modified_gmt":"2018-04-25T09:15:54","slug":"looking-to-buy-a-new-build-new-mortgage-for-you","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/news\/looking-to-buy-a-new-build-new-mortgage-for-you\/","title":{"rendered":"Looking to buy a new-build? There’s a new mortgage for you"},"content":{"rendered":"

Following in the footsteps of Barclays\u2019 new “green” mortgage, Virgin has announced a new range of fixed rate mortgages for new-build homes.<\/strong><\/p>\n

The introduction of the new products is a welcome move for both borrowers and building companies looking for more flexibility when it comes to purchasing a new-build property.<\/p>\n

Virgin’s new range includes a two-year fixed rate<\/a> at 2.19% and a three-year fixed rate option at 2.44%. It has also increased the maximum loan to value ratio on new-build mortgage products from 85% to 90%. Both fixed rate products offer \u00a3300 cashback<\/a> and are available for a \u00a3995 product fee. In addition, a five-year fixed rate deal is available at 2.85%.<\/p>\n

Andrew Asaam, director of mortgages at Virgin Money, said: “This range will provide a competitive option for clients considering a new-build property<\/a>.”<\/p>\n

New mortgage rates available for seven months<\/h4>\n

The lender also confirmed that the new-build mortgage offers will be valid for seven months, and borrowers will be able to benefit from an option to extend open offers for a further seven months where the construction of the property is not completed<\/a>.<\/p>\n

Existing mortgage products for a loan to value ration of 85% on new-build houses and 75% on flats are also still available for borrowers who are able to make a larger down payment.<\/p>\n

The benefits of new-builds<\/h4>\n

As the government strives to reach its target of building 300,000 new homes<\/a> every year for the next few years in order to combat the country’s housing crisis<\/a>, mortgages such as these as well as the one from Barclays<\/a> are a sign that lenders are adapting to the market changes as more people opt for new-builds. As well as the environmental benefits due to the higher energy efficiency levels of a new-build, which is something the “green mortgage” focuses on, buyers can gain many other advantages from investing in a new-build<\/a>.<\/p>\n

Aside from this, those who choose to invest in a new-build before it has been completed – off-plan – stand to make even greater gains in the long run as property prices increase<\/a> before the home has even been lived in, and thus are a popular choice for investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following in the footsteps of Barclays\u2019 new “green” mortgage, Virgin has announced a new range of fixed rate mortgages for new-build homes. The introduction of the new products is a welcome move for both borrowers and building companies looking for more flexibility when it comes to purchasing a new-build property. Virgin’s new range includes a… Read more »<\/a><\/p>\n","protected":false},"author":3380,"featured_media":15846,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,26,6],"tags":[25,44,341],"class_list":["post-15821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-tax-mortgages-money","category-uk-housing-market","tag-mortgages","tag-new-build","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/15821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=15821"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/15821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/15846"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=15821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=15821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=15821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}