Bank of Ireland UK launches new build pilot

House building

Bank of Ireland UK has launched a new build pilot with London & Country and The New Homes Group.

The lender has joined the Help to Buy: Equity Loan scheme in England, Wales and London.

Bank of Ireland has set up a dedicated new build team as part of the pilot, giving brokers direct access to underwriters.

The lender will offer extension options for unfinished homes, day one valuations and assessments.

The lender plans to finalise its proposition and then expand to more brokers in the next few months.

Bank of Ireland UK director of sales Alison Pallett says: “We’ve looked into the common frustrations brokers have when applying for new build mortgages and have come up with solutions to make their lives easier.

“We understand that new build mortgages have a specialist set of requirements needing extra attention, so our new build team will identify these specialist cases and help speed up the ‘application-to-offer’ journey.”

L&C associate director for communications David Hollingworth says: “Bank of Ireland’s new build proposition will enhance the range of mortgage choices available to customers seeking the dedicated advice and service that’s so important when buying a new build property.”

The New Homes Group is part of Connells, in turn owned by Skipton Building Society.

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