How long does a mortgage offer last for off-plan?

Standard offers last 6 months, but some lenders extend this to 9 or 12 months for new-build off-plan purchases. We can match you with lenders offering the longest validity periods.

What happens if the build is delayed?

If your mortgage offer expires before completion, you'll need to reapply. This may mean a new affordability assessment and potentially different rates. We can help manage this process and minimise disruption.

Can I buy off-plan with a small deposit?

Yes, some developers and lenders accept 5% deposits for off-plan purchases, though 10% is more common. The English Help to Buy Equity Loan scheme closed to new applications in 2023; some developer-led schemes (deposit unlock, shared ownership) can still apply to off-plan new builds.

What warranty do I need for an off-plan mortgage?

Most lenders require a 10-year new-build warranty from an approved provider such as NHBC, Premier Guarantee, or LABC. The developer should arrange this before completion.

Buying Off-Plan Mortgages

Buying off-plan requires careful mortgage planning. We'll guide you through the process and secure the right mortgage for your new-build purchase.

How Do Off-Plan Mortgages Work?

When you buy off-plan, you're purchasing a property before it's built — often from architectural plans alone. This creates unique mortgage challenges: you'll typically exchange contracts and pay a deposit months (or years) before completion. Mortgage offers usually last 6 months, so timing is critical. We specialise in off-plan purchases and know which lenders offer extended mortgage offer validity periods.

Lenders offering extended mortgage validity (up to 12 months)
Expert guidance on off-plan exchange and completion timing
New-build warranty requirements explained
Help with developer incentives and their mortgage implications
free initial advice from off-plan specialists

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Your home may be repossessed if you do not keep up repayments on your mortgage.

Mortgage Timing for Off-Plan Purchases

The biggest challenge with off-plan purchases is timing. Standard mortgage offers last 6 months, but construction delays are common. We work with lenders who offer extended validity periods of 9-12 months, and can advise on the best time to apply so your offer aligns with the expected completion date.

Deposits and Exchange

Developers typically require a 10% deposit at exchange of contracts, with the remaining deposit (if applicable) due at completion. Some developers accept reservation fees of £500-£2,000 to secure your plot. It's important to understand that your mortgage valuation won't happen until the property is near completion.

Developer Incentives

Many developers offer incentives like furniture packages, stamp duty contributions, or cashback. While attractive, some incentives can affect your mortgage application — particularly if they reduce the effective purchase price. Lenders treat incentives above 5% of the purchase price differently, so we'll advise on how to structure any deals.

Valuation and Completion

Your lender will arrange a valuation once the property is near completion. If the valuation comes in lower than the purchase price (a down-valuation), this can affect your mortgage amount. We'll prepare you for this possibility and advise on your options if it happens.