New build properties

The maximum we will currently consider lending on initial occupancy/new build and flats for Buy-to-Let mortgages is 65%.

An initial occupancy/new build property is classed as any property being occupied and/or sold for the first time on the open market in its current state and includes converted and refurbished properties. These will fall into one of the following categories:

  • Newly built property.
  • Refurbished property i.e. refurbishment of an existing residential property. Typically a refurbished property will be considered as initial occupancy where the vendor is a builder/developer and the property has been vacated to allow for the refurbishment to be undertaken.
  • Newly converted property i.e. conversion of an existing non residential property, e.g. an existing mill converted into flats.
  • A property, either new or converted (as above), that has been tenanted and is now offered for sale by the builder/developer.

Property must be subject to one of the following building control and monitoring requirements:

  • Building Standards Indemnity Scheme from a warranty provider accepted by TSB.
  • Professional consultant where small, solely residential development of no more than 15 units - consultant must meet qualifying criteria.

TSB Unacceptable New Build Site Search 

Retrospective new build warranties are not acceptable.

New build cash incentives

Cash Incentives up to 5% of the property value are acceptable.

Cash incentives or any other incentives > 5% are not acceptable.