Precise extends new build offers to nine months
The lender has also introduced a specialist processing team to speed up application to offer times in the new build sector – something Halifax has done for the past 15 years.
Revamped criteria also means the lender will accept new build flats with commercial premises on the ground floor and it has revised its list of acceptable new build warranty types.
The maximum number of storeys has increased from 15 to 20 while Section 106 Planning Obligations will also be considered.
The new range is available for near-prime borrowers.
Alan Cleary, managing director of Precise Mortgages, said: “It simply doesn’t make sense that people who have a minor blemish on their credit record or are self-employed find it extremely difficult to secure a new build mortgage.
“This is why we strive to support the needs of those left underserved by mainstream lenders and continue to develop our product range and proposition.”
The changes follow the appointment of Kevin Beale as national sales manager of new build earlier this year.