Newbuilds have become increasingly popular, having the benefit of a new boiler, kitchen and bathroom means you really just need to move in!
The governments HTB scheme has made new builds available to more and more people. A minimum of 5% deposit is all you need to get on the ladder.
Newbuilds are usually reserved, built and then you move in. The upside is that you can choose your kitchen tiles, your carpets. The only downside is that you may have to wait a few months for the build to complete. Don’t worry, we will ensure your mortgage stays valid while you wait and offer a rate check service so that if your lender’s rate improves we can save you money still!
Willow Brook’s Newbuild team have experience with the biggest builders in the UK. We know the warranties that lenders like, we understand incentives you can have with your purchase. More importantly we will complete your HTB application for your free of charge with your purchase.
In most instances you will need to be qualified to view a property on site, some builders will also insist on a soft credit check being done.
Willow Brook can help qualify you for the builder you like and provide feedback should you wish to go and view plots. Soft credit scores are a great way to get acceptance from one lender without this showing on your credit file.
Please refer to the government website for changes to your local area in 2021.
For more information please contact one of the New Build team.
Shared Ownership schemes make buying a home affordable for people living in more expensive areas of the UK or are on lower incomes.
This gives you the opportunity to purchase anywhere from 25% of the property depending on the housing association. This scheme is available on new build and second hand properties. On most of these properties you will have the option to increase ownership upto 100% over time.
You will take a mortgage on the share you are purchasing and only require a deposit from 5% of the share you buy.
For example if you purchase a 25% share of a property valued at £200,000, this would be £50,000 so you could put down a deposit of £2500 and take a mortgage for £47500.
You will pay rent on the share of the property you are not purchasing, however this combined with the mortgage is often the equivalent to what you would pay to rent or purchase the full house.
For more information please contact one of the shared ownership team.
RIGHT TO BUY
Right to buy is a scheme set up by the government to help council tenants purchase their homes. You will usually receive a large discount on the property based on how long you have lived there for, which normally starts at 3 years.
In order to check if you qualify for this you would need to contact your local council. Once you have the approval document with the property value confirmed, we will then be able to assist you in getting a mortgage to purchase the property.
Many lenders will allow you to use the right to buy discount as the deposit meaning you don’t always require your own deposit.
The property must be purchased in the same names as the right to buy document.
For more information please contact one of our specialist advisers.
HIGH NET WORTH PROPERTY AND EQUESTRIAN
The dream house usually has a big price tag and as a result specialist properties require specialist research. Willow Brook has a track record with high value and equestrian properties, we understand that separate dwellings, acreage and non standard methods of construction are common. These factors can put off main stream lenders which often lead to a delay in mortgage applications. Our relationships with specialist lenders will allow a high value mortgage to complete as you would expect.