New homes mortgage specialist Andy Mannion was joined by our Group sales director James Holmear to talk about mortgage availability and the schemes available to help home buyers, as well as the differences between buying a new home compared to a second-hand property.
Why buy new?
New homes provide much greater energy efficiency and more lenders are now offering green mortgages on the most energy efficient homes, explains Andy in our latest podcast episode.
James also talks about Redrow’s consistent efforts to improve the already high energy efficiency of our new homes. This is in line with buyers’ “greater expectations” around the cost saving benefits in light of rising energy prices.
They also discuss the help schemes available to buyers of new homes, such as Deposit Unlock, which provides access to more affordable 95% mortgages with competitive interest rates.
For those with a property to sell, our Help to Sell scheme can also assist, taking the stress out of selling up and streamlining the process of buying a new home.
How to buy a new home
The first step? “Come and speak to us at Redrow, we have a preferred panel of experts who can assist you”, says James. “Everything can happen really quickly.”
Our show homes and our new customer experience suites are the first port of call for anyone considering moving to a new home, said James, where conveniently “every tool a customer needs to hopefully buy a Redrow home is available to them”.
Buyers can visit a development and speak to our friendly sales team and then complete the whole buying process online and in their own time, from wherever they wish, including choosing their options and extras to personalise their new home once they have reserved.
How do I apply for a mortgage?
In terms of mortgage accessibility, mortgage rates are still extremely low, as Andy highlights in the episode; and, on many new homes, there are no broker's fees for buyers using our recommended mortgage specialists.
Andy recommends you check a few things before applying for a mortgage, including your credit score, and have a number of documents ready to supply during the process, along with proof of your deposit.
If you’ve received a mortgage offer in advance of buying a new home, then Andy raises the important point of mortgage extensions, providing reassurance that most lenders are being very flexible in terms of providing three or even six-month mortgage extensions while you wait for your new home to be built.
