New build loans from mortgage broker, Deal Direct.

If you are considering the purchase of a new build property to live in yourself or to rent out, mortgage broker, Deal Direct can advise you on suitable mortgage options.

This includes identifying whether the property is freehold or leasehold, as could be the case with a new build if the developer wants to charge ground rent.

The amount of ground rent you are to be charged may be significant as the figure may affect your ability to meet your mortgage repayments. That, in turn, could affect whether your mortgage is approved in the first place and so should be carefully considered.

The story of developers selling leaseholds and charging extortionate ground rent sums hit the headlines last year, leading to huge protestations from the public.

The Government Department for Local Communities (DCLG), is investigating any mal-practice with the intention of taking action against developers who include unfair ground rent terms in their leases. In response, some developers have already moved to buy back the leases and stop the practice altogether.

Our experts here at Deal Direct can help advise you on issues that may affect mortgage affordability. We can fully review your financial circumstances and advise you accordingly, always acting in your best interests at all times.

We ourselves are regulated by the FCA, so you can be sure our advice is fair, unbiased and impartial.

Contact mortgage broker, Deal Direct on 0800 048 8828 today.