New build and shared ownership mortgages in Hampshire
Buying a brand-new home, or buying a share of one, comes with its own rules, deadlines and paperwork. I’ll help you understand them, find lenders that are comfortable with new builds and shared ownership, and keep things moving so you don’t miss a developer’s deadline.
Buying a new build: what’s different?
With new developments going up around Fareham, Whiteley and Welborne, I help a lot of people buy new homes. The mortgage itself is similar to any other purchase, but a few things work differently.
Tight timescales
Developers often expect you to have your mortgage arranged and to exchange contracts within a set number of weeks after you reserve. Having an Agreement in Principle and your documents ready before you reserve takes a lot of the pressure off.
Your mortgage offer has an expiry date
Mortgage offers last for a set period. If you’re buying off-plan and the build runs late, the offer could run out before you complete. Some lenders allow longer offers or extensions for new builds, so it pays to choose carefully.
The valuation might not match the price
The lender’s valuer decides what the home is worth to them. New homes can be priced higher than similar older homes nearby, and if the valuation comes in lower, you may need a bigger deposit or to renegotiate.
New build flats can be different
Some lenders are more cautious with new build flats and may ask for a bigger deposit than for a house. Others are happy to lend at standard levels. Knowing which is which saves time.
Developer incentives: what lenders need to know
Developers often offer something to help you buy. That might be a contribution to your deposit, paying your stamp duty or legal fees, carpets and kitchen upgrades, cashback, or a part-exchange on your current home.
Incentives can be genuinely useful, but your lender needs to know about all of them. The developer completes a standard form that sets out every incentive, and the lender uses it when it decides how much to lend. Many lenders set a limit on the incentives they’ll accept, and if a package goes over it, they may lend on a lower figure.
- Tell me about every incentive you’ve been offered, even if it seems small
- Compare the incentive with simply negotiating a lower price
- Check how a part-exchange offer compares with selling on the open market
- Make sure your solicitor has experience with new build purchases (I can help through my conveyancing partner)
What replaced Help to Buy?
The Help to Buy equity loan closed to new applications in England at the end of October 2022 (the last purchases completed in 2023), and there’s no direct replacement. You may also still see Deposit Unlock mentioned online, but that closed to new completions in April 2026. That doesn’t mean you’re out of options:
Low deposit mortgages
Some lenders offer mortgages with a 5% deposit on selected new build homes. Others ask for more, especially on flats. I’ll show you which lenders fit your plot.
First Homes
A government scheme for first-time buyers in England offering homes at 30% to 50% below market value, with income limits and sometimes local rules. Availability depends on the council and the development.
Shared ownership
Buy a share of a home and pay rent on the rest. This can mean a smaller deposit and mortgage. More on this below.
Developers may also run their own schemes. Ask the sales team what’s available, then let me check how a lender will view it. Already have a Help to Buy equity loan? See my remortgage and product transfer page for paying it off when you remortgage.
Shared ownership: the basics
Shared ownership lets you buy a share of a home, usually from a housing association, and pay rent on the share you don’t own. You take out a mortgage on your share only, so the deposit can be smaller than buying outright.
Who can apply
In England, your household income usually needs to be £80,000 or less (£90,000 in London), and you must not be able to afford a suitable home on the open market. It’s often for first-time buyers, but not only them: people who used to own a home, or are forming a new household after a separation, may also qualify.
What you pay each month
Your mortgage payment, rent to the housing provider on the share you don’t own, and usually a service charge. Lenders count all of these when they work out what’s affordable.
Buying more later (staircasing)
You can usually buy more shares over time, and your rent goes down as you own more. In many cases you can go all the way to owning the whole home. Each step involves a valuation and legal costs.
Selling
The housing provider normally gets the first chance to find a buyer for your share. Shared ownership homes are usually leasehold, so read the lease carefully and check the service charges and any restrictions.
Not every lender offers shared ownership mortgages, and those that do have their own rules. I’ll match you with the lenders that work with your housing provider. Shared ownership isn’t right for everyone, so I’ll also compare it with buying outright with a smaller deposit, where that’s possible.
How I help with new build and shared ownership purchases
Before you reserve
We talk about your budget, deposit and the scheme or development you’re looking at.
Agreement in Principle
I arrange it quickly so you can reserve with confidence and meet the developer’s or provider’s checks.
The right lender
I pick a lender that suits the plot, the incentives and your timescale, then submit the application.
To the keys
I chase the lender, work with your solicitor and keep an eye on your offer date if the build runs late.
Some developers recommend their own mortgage adviser. You’re welcome to use them, but you can choose your own adviser too. My first chat and advice come with no fee and no obligation, and a fee is only payable once you receive your full mortgage offer – see my fees.
Before you visit the show home
- Work out a rough budget with my mortgage calculators
- Check your credit report so there are no surprises
- Read my first-time buyer guide if this is your first home
- Think about protecting your new home and family – there’s never a fee to you for protection advice
I’m based in Fareham and help buyers on new developments across Whiteley, Welborne, Locks Heath, Portchester, Gosport, Portsmouth, Southampton and the rest of Hampshire.
Frequently asked questions
Can I buy a new build home with a 5% deposit?
Sometimes. Some lenders offer 95% mortgages on selected new build homes, though others ask for a bigger deposit, especially on flats. It depends on the lender, the property and your circumstances, so I’ll check which lenders fit.
Do I have to use the developer’s mortgage adviser?
No. Some developers recommend an adviser, and you’re welcome to use them, but you can choose your own. Whoever you use, make sure your mortgage can be arranged within the developer’s deadlines.
What happens if my new build is delayed and my mortgage offer runs out?
Mortgage offers last for a set period. If the build runs late, some lenders will extend the offer, and others will ask you to reapply. Choosing a lender with a longer offer period for new builds can help, and I’ll keep an eye on the dates.
Do developer incentives affect my mortgage?
They can. Your lender must be told about every incentive, such as deposit contributions or paid fees. Many lenders limit the incentives they accept, and if the package goes over that limit they may lend on a lower figure.
Is shared ownership only for first-time buyers?
No. It’s often used by first-time buyers, but people who used to own a home, those forming a new household and some existing homeowners who can’t afford a suitable home may also qualify. In England, household income usually needs to be £80,000 or less, or £90,000 in London.
Can I buy more of my shared ownership home later?
Usually, yes. This is called staircasing. You buy more shares over time and your rent goes down. Each step needs a valuation and legal work, and I can help you arrange any extra borrowing.
Don’t take my word for it
Found a new home you love?
Talk to me before you reserve. I’ll check what you can borrow, how the incentives affect things and which lenders suit the development, so you can move quickly and with confidence.
Or email contact@easy-mortgages.co.uk, WhatsApp 07368 330822, or use my contact form. Monday to Friday, 9am to 7pm.
Easy Mortgages Limited (FCA 972959) is an appointed representative of Mortgage Intelligence Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA number 305330). 10 Merryfield, Fareham, Hampshire, PO14 4SF.