A record year for new homes constructed in England is driving increased interest in new build mortgages as the year-end approaches and developers look to meet sales targets, according to Precise Mortgages.
Government figures show 241,130 homes were built in England in 2018/2019, the highest number for 30 years.
The Home Builders Federation reported an additional 380,000 new homes were due to be built and the major political parties are committed to supporting further expansion in housebuilding.
Precise Mortgages has highlighted the need for an efficient and flexible approach from lenders in the run-up to builders’ year-end.
Alan Cleary, group managing director, said: “December can be a good time for customers to negotiate the best price on a property as many developers are looking to meet key targets ahead of the end of the year.
“We’ve just recorded our most successful year for new build in terms of applications and completions.
“I believe this is down to a number of factors, including our intimate understanding of the market, getting to really know our intermediary partners and developers, our range of products and a commitment to delivering a service which delivers exactly what customers need.”
The lender has also extended its Help to Buy offering to Scotland in recent months, as well as launching a range of Help to Buy remortgages.