Santander UK has extended its new build mortgage offer validity to nine months from six months.

The lender says the extension is designed to help brokers and their customers alleviate concerns should a building completion take longer than expected.

Research by Santander found that 33% of brokers had experienced issues with a delay in building completion and mortgage offers expiring as a result.

In cases where there is concern that the property will not be completed within nine-months, a three-month extension can be applied for.

Santander for Intermediaries head Graham Sellar says: “New build properties account for one in ten of all property sales in the UK, and with the Government’s ambitions on new towns, we can expect that proportion to grow.”

“We know from talking to our brokers that while there is a lot of opportunity there are also particular challenges when supporting a customer with a new build purchase.”

“We hope our extended validity period gives brokers and customers confidence that Santander is ready to support them with unexpected hurdles along their homeownership journey.”

Last week, Santander announced the introduction of more than 50 new mortgage products to its on-sale range.

The new products included 43 new build specific mortgages with a range of 60% to 95% loan-to-value (LTV), two and five-year fixed rates, as well as two-year tracker rates.