In this brief guide, we will cover the Halifax new build mortgage, its features and where you can find it.

What is the Halifax new build mortgage?

The Halifax new build mortgage is a mortgage you can get when buying a new build property.

The Halifax new build mortgage is available to everyone to apply to although there may be some eligibility requirements which you don’t meet.

Halifax also offers the Halifax new build mortgage on first-time buyer and home mover government schemes where the property being bought is a new build property.

The loan to value rates on the Halifax new build mortgage is usually from 85% and below but Halifax does offer an LTV of more than 85% through assigned mortgage brokers and new build developers

  • Lifetime ISA– gives you a government bonus of £1,000 if you save the maximum £4,000 a year.
  • Help to buy ISA– gives a maximum bonus us £3,000 if you save the maximum allowed of £12,000. Before you get either you should consider which is better. Lifetime ISA vs Help to buy ISA.
  • Help to buy equity loan- gives you up to 40% as a 5-year interest-free equity loan. You begin to pay interest at 1.75 % after the fifth year and 1% plus RPI for every year thereafter.
  • Shared ownership- You can buy between 25% to 75% of the property initially with a shared ownership mortgage and then buy more using a staircasing mortgage.
  • Armed forces help to buy- similar to the help to buy equity loan but specific for the armed forces personnel giving them an increased chance of acceptance.
  • Rent to buy- This is the right to buy scheme on which this guide is currently discussing. A different marketing name is just used. Watch out for this when shopping to avoid missing out on eligible properties due to confusion.
  • Right to buy- allows you to buy your home at a discount price.
  • Preserved right to buy- same as above.
  • Right to acquire- same as above.

Depending on where you live, you may also be able to take advantage of home buying schemes provided by your local council. Example: In Norwich, the local councils provide the Norwich home options scheme.

If you are looking to apply for the Halifax new build mortgage then a mortgage broker may be able to assess your mortgage options to be sure there arent more suitable mortgage options than the Halifax new build mortgage.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.