NatWest has extended its new build offer period from six to 12 months, owing to the time it can take customers to move into the property.
Brokers can request an extension by populating an offer extension template, where they will need to provide a declaration confirming the customer’s current financial circumstances including any changes since the initial assessment.
The offer extension will be valid for six months from the point the extension is agreed.
Luke Christodoulides, senior corporate account manager, said: “The offer extension is a great addition to our new build proposition and reflects our commitment to this market.
“Often through no fault of customer, broker or builder completion deadlines can change and this enhancement will mean that our offers can be extended to provide peace of mind”
Craig Hall, new build manager at Legal & General Mortgage Club, said: “This news provides certainty and peace of mind for all parties involved in the home buying process, and will be positively welcomed by both customers and intermediaries.
“This extension is in line with the majority of lenders operating in the New Build market but also supports their growth aspirations into this sector further.”