New Build Mortgages in Hove, Portslade and Shoreham-by-Sea – Developer Incentives, Snagging and Lender Criteria

New build homes remain popular across West Hove, Portslade and Shoreham-by-Sea. They are energy efficient, low maintenance and often come with attractive incentives. Getting the mortgage right is all about timing, criteria and the small print.

Common lender criteria on new builds

• Minimum deposit – flats often require 15 to 25 percent, houses can be lower
• Offer validity – mortgage offers usually last 3 to 6 months, so plan for the build schedule
• Incentives – cashbacks and upgrades are common, but too many incentives can affect the valuer’s view of price
• Warranty – most lenders expect a recognised warranty such as NHBC or similar

Reservation to completion – a workable timeline

1. Budget and Agreement in Principle
2. Reserve the plot and confirm target completion date
3. Full application and valuation
4. Offer issued – track expiry date carefully
5. Snagging visit and handover
6. Completion and move in

Snagging tips that save time

• Visit at different times of day – check heating, water pressure, windows and doors
• Photograph and log every snag with dates
• Get the developer to confirm snag timelines in writing
• Keep copies of manuals, warranties and EPC documents

Incentives and how they play with lending

Carpets, legal fee contributions and appliance packages are common. Large cash incentives or price reductions can affect the surveyor’s valuation. If an incentive is offered, let your adviser and solicitor see the paperwork so the mortgage and valuation reflect the true position.

Local note

Coastal locations from Aldrington to Shoreham-by-Sea are keen on energy performance. New builds often meet higher EPC targets, which may open access to green mortgage products as well.