Buying a new build home in Andover: what to think about
Most lenders class a new build as something that has been built within the last two years. So, there will be many new build homes within the Andover area. We can help put you in touch with local Estate Agents who are selling new build houses.
Buyers looking at new build homes in Andover may be considering developments in Andover itself or nearby areas such as Ludgershall and around the wider Test Valley area. If you have found a property you like, we can help you understand the mortgage timescales and what lenders may require before you reserve.
If you are interested in purchasing a New Build from any of these developments in Andover, we can help. We can talk you through the whole process, help explain how all the schemes work that can help with affordability and help you apply for the mortgage. We will work hard to get the home of your dreams.
We cover all the local villages and towns to Andover including Amesbury, Ludgershall, Bulford, Tidworth and Grateley.
If you are still weighing up your wider mortgage options, you can also read our mortgage broker in Andover page.
How does the Mortgage Process work for a New Build?
You’ll apply for a new build mortgage in a similar way to a normal mortgage. However, the process can be more complex.
When buying a new build, there are several things you need to consider when getting a mortgage.
New build purchases often move faster than standard house purchases at the start, but then involve a longer gap between exchange and completion. That means it is important to choose a lender whose offer period works with the build timescale, and to get your mortgage agreed in principle as early as possible.
Things you need to consider:
- Your mortgage lender will need to know that you are buying a new build. This is because you may need a mortgage that is arranged with a long delay between exchange and completion. Otherwise, there’s a risk that your mortgage offer might run out before your home is ready to move in to and then you’ll need to start the process again.
- With new build homes you often only have 28 days from reserving the house to exchanging. So the sooner you speak to your mortgage adviser to start the application process, the better.
- With most new builds you will need to put down a reservation fee to secure your property. You need to consider this within your overall affordability.
Our team of expert mortgage advisers can guide you through the new build process. We know which lenders have extended offer periods. We can also advise you on which lenders will be able to move swiftly in order to meet the 28 day exchange deadline.
Get in touch today to talk about new build home mortgage advice.
Why use Your Mortgage Expert for a new build purchase in Andover?
New build purchases often involve tighter deadlines, more moving parts and lender criteria that differ from standard home purchases. We help buyers understand the process early, prepare the right documents and avoid delays where possible.
We can help with:
- First time buyer new build purchases
- New build remortgages where relevant
- Understanding developer deadlines
- Lender criteria for incentives and gifted deposits
- Affordability checks before you reserve
Many buyers of new build homes are first-time buyers, so you may also find our first time buyer mortgage advice helpful.
Frequently Asked Questions
Can I get a mortgage on a new build home in Andover?
How much deposit do I need for a new build home?
Why can new build mortgages be more complicated?
What is the 28 day exchange deadline on a new build?
Can you help first time buyers buying a new build in Andover?
Do developer incentives affect my mortgage?
This page was last updated in March 2026
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.