Secure Trust Bank has increased its offer period for borrowers buying new build property.
Mortgage offers for these properties will now be valid for 180 days, and can be extended by a further 90 days in certain circumstances.
Secure Trust Bank’s standard mortgage offers are valid for 90 days, with a 30-day extension available on request.
Secure Trust Bank’s head of sales and marketing, mortgages Tony Hall says: “By introducing a six month offer period, with the potential for a further three month extension we are making it easier for customers to buy a brand new home.
“Many of these buyers will often purchase such properties off-plan, months before the building work is completed.”
He says new build properties have an important role to play in delivering additional housing supply, but adds that customers buying these homes are often under-served by traditional high street banks.