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Finance


Where I can I get a mortgage to buy a new home?

There are multiple lenders offering mortgages on new homes, sometimes with exclusive packages.

Who should I talk to about getting a mortgage?

Westerhill Homes can introduce you to Threshold Mortgage Advice, specialists in new homes mortgage advice. It’s important you get the right advice for your circumstances. Visit Threshold Mortgage Advice for more details: . https://www.thresholdmortgages.com/

What if I’m self-employed?

There are lenders for those who are self-employed but with additional criteria regarding proof of earnings. A Financial Advisor can help you with what is required.

Why should I speak to Threshold Mortgages, I was thinking about going to my bank?

Threshold Mortgage Advice are specialists in the new homes market for mortgages. They are also independent mortgage advisors which means they search the whole market for you to get the right product for your personal circumstances, whereas your bank will only be able to offer their own products to you.

Will it cost me anything to use Threshold Mortgage Advice?

No, Threshold Mortgage Advice will not make a charge to use their services, other Mortgage Advisors may make a charge.

When should I get a mortgage for a new build home?

If you are thinking about buying a home it’s important to speak to an Independent Mortgage Advisor as soon as possible. You’ll then know how much you can borrow and how much you can spend on a new home purchase.

What is a mortgage survey?

Your mortgage lender wants to be sure they are lending against a property which exists and is the right value. They employ a surveyor to carry out checks which include a visit to our Sales Office and the plot, if it is ready.

Why should I speak to a panel Independent Financial Advisors before I reserve a new home with you?

We want to help you to make the right buying decisions based on your affordability, and know that you are able to proceed with the purchase if we take a reservation from you.

Do I have to pay for a survey?

Generally yes you will pay a fee for the survey, although some lenders offer a free survey.

How much is the deposit for a new home?

When you exchange Contracts we ask you for 10% of the purchase price as a deposit. If you are a first time buyer or, using the Government-backed Help to Buy Equity Loan Scheme,  it will be 5% of the purchase price. Take a look at our Buyers Guide – Help to Buy Equity Loan for details of this scheme.

How long does a mortgage offer last?

A mortgage offer is usually valid for 6 months.

When do I start paying the mortgage?

Mortgage repayments usually start in the month you legally complete and move into your new home. Your lender will notify you of the mortgage repayment dates in your mortgage offer.

I’m not having a mortgage, should I still have a survey?

It is not a legal requirement to have a survey if you aren’t having a mortgage however, many buyers feel it gives them piece of mind regarding the value and quality of build.

Why will it help me to use a panel Financial Advisor to buy a new home from you?

Developers have targets to meet for exchanges, and by using the panel FA it will help us, to help you, to be ready with your mortgage offer when your Solicitor is ready to exchange.

Will a Financial Advisor tell me all I need to know about the Government-backed Help to Buy Loan Scheme?

Yes, they’ll be able to go in to detail with you about the scheme. Take a look at our Buyers Guide – Help to Buy Equity Loan,  for more information.

Other Categories


  Buying a New Home – The Process

When you are buying a new home there is a lot of information to take in. We’ve put together this handy Buyers Guide especially for you, to answer some of the most often -asked questions

  Finance

There’s a lot to think about when you are buying a home, and how you are going to finance the purchase is one of the most important aspects to consider.

  First Time Buyers

When you are buying a home for the first time there a lot of information to take in. We’ve put together this handy Buyers Guide especially for you, to answer some of the most often -asked questions

  The Help to Buy Equity Loan Scheme

The Government-backed Help to Buy Equity Loan Scheme is for anyone buying a home, but it must be your main home. We’ve put together some handy questions and answers to give you an overview.

  Legal

Once you’ve chosen your new home, you’ll need to instruct a Solicitor to complete the legal conveyance work on your behalf. Her are some handy questions and answers to help you understand a bit more about the process.

  Stamp Duty Land Tax

This handy question and answer guide gives you a small snapshot of information about STDL – Stamp Duty Land Tax.

  The Benefits of Buying a New Home

There are many benefits to buying a new home. We’ve put together a handy question and answer guide for you to give you some of the information.

  The Consumer Code

The Consumer Code is for you the buyer and us the house builder, our question and answer guide gives an insight into what the Code is all about.

  Westerhill Homes Customer Services

Once you’ve moved into your new Westerhill Homes home, our dedicated and experienced Customer Services Team will be here to support you. Here’s our handy guide in a question and answer format explaining what to expect.

  Westerhill Homes Easy Move

If you’ve found one of our homes you want to buy, but haven’t sold your own home then our Easy Move Scheme will be the perfect solution. Take a look at our handy questions and answers guide to find out more.

  Westerhill Homes Part Exchange

We are keen to help you move and appreciate that selling your own home is stressful. Our Part Exchange Scheme take all the stress away from you, plus you’ll save on estate agents fees. Here’s some handy questions and answers to explain more about how our part exchange scheme works.

  Westerhill Homes Recommend A Friend Scheme

We want to say thank you when you for introducing Westerhill Homes to your friends and family. How does the scheme work?

  Countdown to Moving

There’s so much to think about when you’re moving home, we’ve put together a handy tips sheet to help you plan the move.

  Your new home warranty

The Westerhill Homes Customer Journey continues once you have moved into your new home with our New Homes Warranty.