Many New Build developments face delays due to supply chain issues and a shortage of materials and labour. These challenges, along with high consumer demand for New Build properties, is resulting in developers often forward selling or releasing units many months ahead of build completion.
At Bluestone Mortgages, we are committed to supporting the New Build market, by improving our proposition and as a result, we have made the following update to policy:
- New Build offer validity extended to 6 months, with the ability to apply for a further 3 months extension
In addition, we’ve also simplified the process on Help to Buy cases, by removing the requirement for the Authority to Proceed (ATP); meaning that fewer documents need to be submitted with the application.
We believe that our New Build policy amendments can support current and prospective homeowners and allow disenfranchised borrowers the chance to purchase their new home.
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If you have any questions, feel free to give us a call on 0800 368 1833
