Why buying a new build home could be the right choice for you

Are new build properties right for you?

If you are looking to get on the property ladder or are a homeowner in the market for a new house, why not consider a new, new house? The allure of being the first owner of a shiny new build house is a draw for many buyers, but it’s natural to have concerns and questions, especially when buying off-plan.

There are numerous benefits to buying new build homes, from modern design, amenities and technology, to greater energy efficiency and peace of mind when it comes to warranties. If buying off-plan, there may also be customisation options to put your own stamp on your brand-new home.

Ready to explore the benefits of new build homes? This blog post will explore the many benefits of new houses versus older houses, with useful information about new-build mortgages and help-to-buy schemes.

Bliss Financial is here to assist you every step of the way, from researching lenders to the moment you exchange contracts. Our friendly team of mortgage experts will help you secure the best mortgage deal for your new build home. Contact us today for a friendly, informal mortgage consultation and start looking for the home of your dreams.

What is a new build property?

Before we delve into the benefits, let’s clarify what we mean by a new build home.

A new build refers to a home that has been constructed in the last two years, but most developments are “off-plan”, i.e. in the process of being built.

These properties are typically sold by developers, offering buyers the opportunity to purchase a brand-new home that no one else has lived in before.

New build homes come in various types, including houses, apartments and townhouses.

Who are new builds suitable for?

New build homes have broad appeal to many types of buyers.

The promise of the latest technology, modern living and customisable features is a huge draw for young couples and first-time buyers.

For home movers, new build homes can be attractive as they are more energy efficient, offering the opportunity to save money when compared to their existing property.

Families love new builds because they very often have multiple bathrooms and large en suites, and a second reception that can be used as a family room.

For older or retired couples, new build homes can offer a terrific opportunity to downsize and move in straight away without the hassle of having to decorate, lay new carpets or buy new kitchen appliances.

What are the benefits of buying a new build property?

From customisation, smart features and cheaper energy bills, there are so many pros to buying a new build home.

Here are Bliss Financial’s top 9 reasons for choosing new build properties:

#1 High-quality construction: All new builds adhere to the latest building regulations, meaning that they meet high standards of safety, energy efficiency, and structural integrity. This provides great peace of mind and can potentially reduce future maintenance costs.

#2 Energy efficient: Increasing energy bills are at the top of everyone’s mind at the moment, another reason a new build can be appealing. They benefit from superior insulation and modern, efficient gas boilers. Many offer affordable, sustainable energy solutions such as integrated solar panels, underfloor heating and heat pumps. You can expect an A or B rating on your Energy Performance Certificate, which is very rare in older properties.

#3 Lighter carbon footprint: For the environmentally conscious among us, a new build is not only more energy efficient but most are also constructed with more sustainable materials, helping to minimise your personal environmental impact.

#4 Warranty protection: New build homes come with warranties protecting against major structural defects and appliance issues. Most developers will take care of any snags during the first 2 years of ownership.

#5 Modern design and layout: New builds are designed with modern living in mind. For example, we all love a natter in the kitchen, and many new builds have open-plan layouts that make the most of the heart of the home.

#6 All the latest technology: We all crave comfort and convenience, and new builds cater to that with modern amenities and advanced technology. For example, many come with smart home features allowing you to automate appliances with your mobile, controlling things like lighting, heating, security, and entertainment.

#7 Better security: New build homes can offer you, and your family enhanced safety, with properly fitted locks, multiple smoke alarms, circuit-breakers, fire-resistant materials and, sometimes, CCTV and video entry devices.

#8 Your own stamp: This is a biggie for a lot of people when it comes to buying a new build. The ability to personalise a blank canvas is very appealing! If you buy a new build off-plan, many developers will finish the property to your specification, including things like kitchen units, carpets, built-in wardrobes and storage space – and perhaps even the layout.

#9 Chain free: Another big win when buying a new build. There are no previous owners to contend with, so if all goes well at your end, it can be much easier than buying an older property. A good mortgage broker can help ease the process even further.

Older properties versus new build properties

For some, period properties will win out over the mod cons of a new build any day. Every home buyer has their list of must-haves, so if yours is period charm, larger rooms and original features, then all power to you. Just remember that it will likely come at the expense of all the great benefits mentioned above.

But of course, the benefits of a new build property do come with a price tag, so expect to pay a premium for a new build home.

Will a new build be more financially efficient during the cost of living crisis?

New builds certainly offer potential cost savings to homeowners when compared to older properties.

For one, they are likely to be far more energy efficient, so you can expect lower energy bills. In addition, you can enjoy reduced maintenance costs in the first few years, as with everything being brand new, wear and tear should be minimal. You may even see a reduction in your home insurance costs. Ker-ching!

Along with the immediate cost savings, there is the peace of mind that comes with warranty protection, giving you some protection from any nasty repair bills down the line.

Is it easy to get a mortgage for a new build house?

When considering buying a brand new house, one of the common concerns that potential buyers have is whether they will be able to get a competitive mortgage.

It’s true that applying for new-build mortgages can be a tad more involved. For example, lenders often have specific criteria for valuing new builds, taking into account the development’s build stage, warranty coverage, and future value.

Additionally, lenders may require detailed information about the development, such as planning permissions and building regulations compliance. You may also need to provide additional documentation, including contracts, estimates of completion, and details of the developer.

Perhaps the most confusing aspect is that the mortgage lender may release funds in stages due to the length of time between the mortgage offer and completion. This is based on the progress of the construction, requiring careful coordination between the buyer, developer, and lender.

With all this in mind, it’s a wise move to work with a mortgage broker experienced in mortgages for new builds, like Bliss Financial. We can take the stress out of managing the process, liaising with developers and lenders on your behalf to ensure a smooth mortgage application process.

Are there schemes available when buying a new build?

If affordability is an issue, take heart. There are schemes available to help you secure the new build home of your dreams.

The government-backed equity loan scheme has now closed, but you might consider the following:

Shared Ownership: This scheme allows buyers to purchase a share of a new build property, typically between 25% to 75%, and pay rent on the remaining portion. Buyers can gradually increase their share over time through a process called “staircasing” and eventually own their home outright.

Deposit Unlock: This scheme is exclusive to new builds and allows buyers to get a mortgage with a lower-than-normal deposit. It involves using a portion of the property’s value as security, typically around 5%, while the remaining deposit is held in a separate account. The locked portion of the deposit is released after a certain period, allowing the buyer to build up additional savings.

In addition, some developers offer incentives, such as paying your stamp duty. This can reduce the amount you have to borrow, which lenders will take into account.

Need a mortgage for your new build home? Get in touch with Bliss Financial today

Here at Bliss Financial, we understand that investing your hard-earned deposit in a brand-new house can be daunting. Rest assured, you can expect our support at every step of the way, from finding the right deal to making the application, from mortgage offer to completion. We are a friendly and caring bunch, and we always have our client’s best interests at heart.

We specialise in mortgages for new build homes and, as independent brokers, have access to a wide range of lenders.

While you’re busy designing the features of your new build home, we’ll deal with the less exciting stuff, like liaising with property developers and mortgage lenders to ensure everything is plain sailing.

Contact us today to arrange a consultation via video chat, over the phone, or a cuppa.

Conclusion

Buying a new build can come with a whole host of benefits, making it an appealing choice for first-time buyers, home movers, growing families and retired couples alike.

From low maintenance and modern amenities to customisation options and energy efficiency, new builds provide an excellent opportunity to create your dream home and save money down the line. With the support of a mortgage broker, you can navigate the mortgage process for your new home with ease and confidence.

Picture of Amanda Marsden
Amanda Marsden

Amanda is the founder and owner of Bliss Financial. She has been helping clients with their mortgage and insurance needs for over 15 years. Her passion is to fully explore the options open to them and ensures the process is easy with no stress. She also specialises in helping clients invest in buy to let property and landlords.

Contact Amanda

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Selected from a number online because they stated that they have experience working with people from the military. This was essential given how moving on assignment often can be a negative for many banks when it comes to lending. Amanda was excellent and the process was swift and easy. We had planned to visit face to face but the process was just as high quality over zoom and phone.
Richard S.
1719241519
Amanda is great, everything was explained clearly and always responsive to queries, would highly recommend.
Pavitar P.
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This is my second time remortgaging through Bliss and Amanda. The service provided has made my life stress free and Amanda was thorough with her research into what deal and term would be best for me based on economic uncertainty and where I am atthis point of my life.I'd not use any other mortgage broker ✨
Harriet L.
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Amanda was extremely knowledgeable and helpful from minute one. I am very grateful to her for diligently working within a fairly tight timeframe to identify and provide me with the right product.Her communication throughout was prompt and well-received. I look forward to using her services again.
James D.
1712577010
Excellent service. Fully deserving of 5 stars. Nothing to fault. Great communication and everything went through in time with no issues. Would highly recommend Amanda Marsden.
Luke H.
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Amanda was absolutely brilliant from start to finish. She helped us secure our forever home mortgageWould 100% recommend for anyone needing financial services of any kind!
James B.
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Absolutely perfect service from start to finish, no stress, no hassle can’t recommend enough. Thankyou
sarah W.
1707382538
We have used Amanda for many years. She knows exactly what she is talking about and offers the best advice. I cant recommend Amanda enough if you're thinking of getting a mortgage or going through a Re-Mortgage. She reassured us throughout the whole process and was in touch every step of the way. Thank you Amanda, here's to many more years.
David J.
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Amanda was amazingly helpful and made the whole process hassle free. Even when I changed my mind a few times nothing was a problem and the end result was exactly what I was looking for. I would highly recommend Amanda and the team
Atha D.
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We used Amanda a few years ago for our first mortgage. She was an absolute hero for us. She sat us down and explained everything thoroughly putting all out worries at ease as first time buyers. We had issues with our chain which meant our mortgage offer lapsed and Amanda was there every step of the way right through to the day we moved in. Due to remortgage in the next year or so and I will always go back to Amanda.
Anya K.
1705410372
Once again very helpful and prompt in helping us with remortgaging our property, highly recommended
Natasha G.
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Bliss WILL get you the best mortgage solution possible. The best mortgage broker around!!
michaela M.
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Amanda was absolutely brilliant from start to finish. She helped me secure my first mortgage and also helped with organising the best deals on life and home insurance for my house. Would 100% recommend for anyone needing financial services of any kind!
Nathan C.
1702901651
We specifically selected Bliss as financial advisors for our mortgage, as we'd read great reviews from other first time buyers. Amanda was so welcoming and helpful, introducing us to the whole process. We actually went to her thinking we were fish out of water, and wanting to but not expecting to but for a few years, just wanting to get our heads around it. However everything felt easy, quick and well explained and we were accepted for a within approx 2 months of starting our search. Amanda has been amazing throughout the entire process - even personalising the way she presented documents to us to suit our styles (me, needing to talk everything out and my partner more graphs and charts!). Evening appointments were organised to work around our work schedules. She was in constant communication with all stakeholders, chasing things up for us and since moving, also supporting with insurances. I'd highly recommend Bliss, and specifically Amanda for any financial advisory services however particularly first time buyers, as no question feels like a silly question. For future purchases, selling, and any other financial services - we will definitely return to Bliss.
Amber B.
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Great service. Professional, friendly and efficient. Amanda did a great job in advising me and then finding and securing the best mortgage to suit my situation
Ed T.
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Absolutely amazing service, couldn't have received any better. Very friendly and quick at replying to all enquiries. Very understanding of our circumstances which were difficult but still got us everything we needed for our new house. Thank you again Amanda, will be recommended you to everyone who needs a mortgage broker ☺️
Stacey G.
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Amanda helped us to secure our first mortgage. She was on hand for support all the way through the process and very helpful in explaining things in a more simple way to help us to understand. She kept in contact with us regularly throughout the process and really made us feel at ease. We cannot thank Amanda enough for her support and help.
Annise M.
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I came across Bliss financial solutions by google search when desperately trying to find a mortgage advisor who could do the impossible (secure a DiP quickly, that met my difficult short term self employment circumstances).Amanda from Bliss has been a pleasure to work with. The perfect balance of professional and friendly, incredibly organised and certainly not deterred by a challenge. I’m really grateful for the time and effort she put into my case to allow me to secure the house I wanted within the mandated timeframe. Thank you so much Amanda and Bliss for allowing us to get our new home 💜
heather U.
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I just want to say how amazing Amanda at Bliss financial is!!. My partner and I were looking at buying a shared ownership prooerty and everything started happening very quickly ... but Amanda just took over from the start and literally kept me at ease the whole way . Herprofessionalism throughout was second to none and helped with every aspect of the process. Thanks to Amanda we now have the most beautiful home and we will be forever grateful for everything she has done for us. I would 100% recommend Bliss Financial.
charlotte C.
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Excellent service. Amanda really took the stress out of remortgaging for us. Highly recommended
Amy G.
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Switching mortgages has always been a frustrating and time consuming experience but using Bliss made the process seamless and most importantly stress free! They were excellent and I would highly recommend their services.
Neil G.
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Amanda has been totally invaluable through our first home buying journey. Always on hand to answer the hundreds of questions with her excellent knowledge and guidance.I would absolutely recommend Bliss Financial Services.
Matt D.
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We have been in our new house for nearly 2 months now all thanks to Bliss Financial Solutions, Amy was amazing sorting our new mortgage out and talking us through everything we needed to know. Very smooth process with good communications. Thank you very much. 🙂
Donna G.
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Exceptional customer service, professionalism and market knowledge.
George R.
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Really excellent & supportive service from start to finish throughout mortgage process, from initial enquiry through to successful completion, friendly, knowledgeable and always happy to take time to answer any questions - great organisation.
Nella F.
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Brilliant lady Amanda, always positive knowledgeable and helpful. Have no doubts in recommending her and Bliss Financial Solutions
Jeff W.
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Very prompt and professional team. Helped us out no end! Highly recommended
Wayne C.
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I would like to thank Bliss Financial Solutions for amazing, professional and swift responses during the process of my first home purchase.It has been an absolute pleasure each time I have met you and will 100% have no hesitation for contacting you again for future requirements and highly recommending you.
Paul K.
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We have recently used Amy at Bliss to help us get a mortgage. After having a stressful time at high street banks and other mortgage brokers, we contacted Amy for help. Amy was absolutely excellent and the work she does is outstanding. Amy went above and beyond and managed to find us a mortgage in a matter of days. Throughout the whole process Amy kept us up to date and managed the mortgage application seamlessly despite a stressful time with other companies. I would like to express my many thanks to Amy and the team at Bliss for being so excellent and thanks to them we now have the keys to our new home.
Alicia
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My experience with Bliss Financial was excellent, everyone went above and beyond. Provided the best advice and more. Our mortgage was sort with out any stress. I will continue recommending to friends a family looking for mortgage advice.
emma W.
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First class customer service, highly recommend Bliss Financial Solutions LTD to anyone that values a professional, efficient and personal approach. Being first time buyer my partner and I had very limited knowledge around mortgages and all things connected. Amanda and her team went above and beyond to ensure we understood everything and provided advice when we had any questions with immediate response. Bliss financial limited we thank-you kindly for making the whole mortgage process so easy, you took all the strain off us especially need due to the birth of our daughter 3 weeks ago you made the mortgage process easy and hassle free. I will definitely be a customer for life and if there is anyway I can share your company’s profile on social media please let me know as I would love to recommend your service to others.Many thanks Melissa Hodgson, Andrew and Eloise - three very happy customers 😊
Melissa H.
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Amy and the team were absolutely amazing! Nothing was too big. We didn't really know much about the process and Amy explained everything so we fully understood! We couldn't have done it without the team 100% would recommend to anyone! Thank you all so much ❤️
Rebekah F.
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We used Bliss to re morgage our property. Amy was absolutely fantastic, made everything feel really easy, she was clear in all her explanations, open and honest with setting expectations, and really knowledgeable. The whole process was really smooth. We also discussed life insurance which was something of a priority giving we had just had a little boy recently. Amazing service. Would highly recommend. We will definitely be using again for any future mortgage or insurance needs.
Lauren A.
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Excellent service, they really came to the rescue after being messed about by our current lender, amazing absolutely amazing. Just wish we went to them sooner would have saved a big headache 😃
Michael C.
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Efficient and friendly. The team helped source the most appropriate mortgage for us at a very busy and pressured time for interest rates and timeframes. They were very helpful in expediting the completion when our solicitors were holding up proceedings. The little gift afterwards was much appreciated also. Would recommend.
Kirsty T.
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Bliss Financials was a vital part of my journey to home ownership in the UK. They always gave personalized yet professional advice and were always accessible and responsive all through the process. They were very thorough, transparent and client centered; offered and discussed all the available options to enable me make an informed choice. I would totally and wholeheartedly recommend their services and I am very grateful to Amy who handled most of the process as well as Amanda and Sophie. Great team/firm!
Nwosa C.
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I would like to praise the excellent service of the Bliss Financial Solutions LTD.I have a brilliant experience with this company. I was buying a house for the first time and Bliss Financial advised me on every step of the process (mortgage, insurance), offering me suitable options that I could choose from. I always got great offers and still was in control.All members of the team (Amy, Sophie, Amanda) are brilliant, very professional, friendly and responsive.I am very grateful to Amy (my consultant) as she did help me very much throughout the process, nothing was a problem,I received responses straight away and she also prompted other parties to act swiftly (lender, insurance companies, solicitor, etc.).If I need mortgage or insurance in future, I will definitely ask Bliss Financial for help again.
Michal P.
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I am now on my second mortgage which was arranged using Bliss. What an outstanding service. From start to finish the Bliss team were great in answering queries that I had. They even pushed to get me an extension to my offer seeing me secure a great rate before the recent rises. This certainly helped me secure my dream home. I would recommend Bliss to anyone who is after a professional and personable mortgage advisor.
Dean
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Amanda worked extremely hard and was really efficient is securing a fixed deal for me at a time when rates were being removed across the board. I would recommend them to anyone.
Andrew M.
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Excellent from start to finish. Every decision and option were made clear to us about the implications and any questions we had were answered in a timely manner, making remortgaging easier than I imagined it would be. Thank you to Bliss Financial Solutions for excellent service and attention to personal details that really made us feel like our priorities were put first. We will use again at our next remortgage and would recommend to anyone.
Melissa B.
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Excellent company, fast and responsive and a professional outfitI appreciate Amy’s swift advice on a deal to secure a good rate 12hrs before the rate changed
Adam L.
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What a fantastic service. I contacted Amanda via a friend recommendation. She was friendly and helpful. She passed me to Amy who was my advisor for the whole process.As a first time buyer, I was like a rabbit in the headlights. But Amy reassured me and made the whole thing a breeze, with regular contact and updates along the way.Thank you to you all.Highly recommend 😁See you when it's time to remortgage 😉
Steven R.
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We have used Bliss/Amanda for a number of mortgages now and the service has always been second to none!We have had complicated financial situations that the Bliss team have used their extensive knowledge to support and ensure we receive the best product for us.We always recommend Bliss to all our friends and family!Thank you to Amanda, Amy and Sophie
Samantha B.
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The staff are amazing and very helpful throughout the whole process, the rates are very competitive and the after sales service is second to none, I would highly recommend Bliss Financial to anyone.MarkAspire Property Rentals
Mark L.
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Any Lyons found us an excellent mortgage deal and then helped us through a long complex legal process regarding the house. She was there for us all the way through keeping us informed and chasing up when there were delays, Thank you Amy and her team.
Ken W.
1665142125
Amy has been amazing from the start of our process as first time buyers until completion. We had a few delays along the way due to waiting on a new build but Any was there to guide us through every step of the way to help us rearrange another mortgage and kept us regularly updated on the process. I have already recommended her to friends and family and wouldn’t hesitate to use her again when we remortgage.
Melissa N.
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Really happy with the service from Amy and Bliss Financial Solutions - Amy made sure everything was as straight forward as possible, was super communicative and really easy to deal with. Would not hesitate to recommend them.
Rachael G.
1664269233
Amanda was very helpful. Gave advice over a number of options for my situation. Many other companies didn't even bother calling me back. Will definitely go back to Bliss again in the future.
Lesley C.
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