TSB has launched a new build guarantee for mortgage brokers, as these types of homes look set to rise under government policy.
Under the lender’s guarantee, it pledges:
- For all new build applications, where the applicants are employed, it will guarantee that it will work all documents by the next working day
- Once a valuation report is approved, the case will move to offer
The bank has also established an eight-strong new build specialist team, led by national new build manager Paul Thornton, which it tells brokers will be able to “support you and your clients up to and including completion”.
The move by the lender comes as Labour pushes ahead with its plans to build 1.5 million homes by the end of this Parliament.
It also comes after Halifax Intermediaries last week created a new build hub, which brings together its policy information on the purchase of new build homes and affordable housing schemes.
TSB has produced a new build newsletter on its broker hub, which details information on criteria, affordability and a helpline to deal with problems with these types of homes.
Meanwhile, the lender has also introduced a green product range for house purchase applications for properties with an energy performance certificate rating of A or B.
The range offers an additional £250 cashback incentive with product rates aligned to its residential house purchase range and is also available for standard, shared ownership and shared equity applications.
