With Express Mover, we will work with a recommended local agent to sell your current home as quickly as possible, giving you peace of mind to focus on buying your Bellway London dream home.
Our IMA (Intermediary Management Agent) will work with a recommended local agent to market your property on your behalf – with no estate agent fees to pay. When an offer is accepted on your home, you will be invited to reserve your new Bellway London home.
What estate agency will you use?
This will depend on where you live, but we will discuss the options with you. We will then obtain valuations from two agencies, at times and dates to suit you.
What will your final valuation be based on?
This will be based on the valuations of two local estate agents, the details and information they have shared with us about your home – such as photographs and room measurements – and the price of similar properties on the market, or recently sold in your local area.
When do I reserve my new home?
You reserve your Bellway London home when the sale of your current property is agreed.
What happens after a buyer is found for my current home?
Once a buyer has been found for your existing property you can reserve your new Bellway London home. Timings on completion, and so moving in, will depend upon the situation of your purchaser and the stage of construction of your new Bellway London home.
A deposit-free 100% mortgage is now available to help buyers purchase a brand-new Bellway London home. Available to those looking to purchase a Bellway London house, the ‘track record’ mortgage – available through Skipton Building Society – is open to renters struggling to save and pay high rental fees simultaneously. All you need is proof of one year’s rental payments for the property you’re renting, and you could purchase a home up to the value of £600,000.
If you need financial advice, New Homes Mortgage Helpline (NHMH) offer a no-commitment service to help you find the most suitable mortgage for your new home. Available seven days a week, they specialise in the purchase of new-build homes and can offer guidance on the mortgage products available for your affordability.
Can I buy anywhere in the UK?
This mortgage product is only available to buyers currently renting in England, Scotland, and Wales.
Who is eligible?
Buyers who are currently renting and able to provide evidence of at least 12 months’ worth of consistent rental payments. Buyers also cannot have owned a property in the UK or abroad in the last three years. You must be aged 21 or over and have no missed payments on debts or credit commitments in the last six months.
Is there a limit on the loan amount?
The maximum loan amount is calculated based on how much rent the applicant is currently paying. The maximum you can borrow through this mortgage product is £600,000, subject to lending criteria.
If I have a deposit, can I reduce the amount I need to borrow?
Yes, although you don’t require a deposit, you can still be eligible as long as your deposit is less than 5%.
Deposit Unlock is an innovative new scheme designed to help more first-time buyers get onto the property ladder and to get existing buyers moving.
A deposit of just 5% could secure you a competitively priced mortgage, up to £833,250, on selected Bellway developments and plots. The scheme is available on certain owner-occupier houses and apartments – not buy-to-let properties – and can be used alongside two of our other useful initiatives, Part Exchange and Express Mover.
We will put you in touch with a specialist New Build Mortgage Advisor to help arrange your Deposit Unlock application and mortgage – setting you on the way to your Bellway London home.
Deposit Unlock is a mortgage indemnity scheme that supports 95% Loan to Value (LTV) lending on new-build properties.**.
Upon completion of a home purchase, offered as part of the programme, the developer pays a percentage of the purchase price into an insurance policy. The policy reduces risk for the lender, protecting them from a proportion of the potential lender loss in the event of default.
For further information, speak to our Sales Advisor at your chosen development.
How is affordability calculated?
Each lender using the scheme will assess affordability in the normal way using their lending criteria, which includes consideration of income, outgoings such as regular payments and living costs, as well as an assessment of future changes that might have an impact on a borrower’s ability to pay a mortgage.
How do I go about getting a new home with this mortgage product?
This scheme is available on selected developments and plots. Please call one our sales advisors at your chosen development for further information.
I’ve found a new home on a new development where the scheme is offered, can my own broker process my application?
No, there are only a few nominated brokers being used to facilitate this scheme. Therefore, you will be required to use our nominated broker.
Are buy-to-let borrowers able to use Deposit Unlock?
Deposit Unlock is designed to help those with small deposits get on the housing ladder and so is restricted to owner-occupier homes only.
Which mortgage specialist will you put me in contact with?
We will put you in touch with New Homes Mortgage Helpline, our New Build Mortgage Advisor. Bellway London may receive a commission when you complete on a mortgage arranged by New Homes Mortgage Helpline.
Sell your current property to us and buy one of our new homes with Bellway London Part Exchange. You will benefit from:
Under our part-exchange scheme you agree to sell your home to us, with the price being determined by at least two valuations from independent estate agents. We then market your property, leaving you free to decide on your new Bellway London home — and with part-exchange there is no risk of a subsequent price increase on your preferred plot.
Which estate agency carries out the valuation?
This will depend on your local area. Two estate agents, sometimes three, will undertake valuations of your property.
When will the valuations be carried out?
Estate agents will visit you to carry out valuations of your current home generally within two to three days of your part-exchange application. You must be available for this within working hours. Our part-exchange manager will also view your property.
What will your final valuation be based on?
This will be based on the valuations of two local estate agents, the details and information they have shared with us about your home – such as photographs and room measurements – and the price of similar properties on the market, or recently sold in your local area.
Bellway London will generally base our offer for your property on the average of the anticipated 4 week selling price valuations from two independently instructed local valuers, but will take into consideration any reported factors that may affect the property value. Bellway London reserve the right at its absolute discretion to refuse to consider or to accept any property in part-exchange it deems unsuitable. All fixtures and fittings are deemed to be included in any Part Exchange offer, which may be subject to further survey(s) if the property is over 10 years old.
When do I reserve my Bellway London home?
After we make you an offer on your current property you are free to reserve your new home.
Terms and conditions apply. Please speak to our sales advisor for details.
What criteria do I need to meet?
Part Exchange is only available where all of the following criteria are satisfied and is only available on selected plots and developments:
Is my current property applicable?
The property must represent a good marketable proposition; therefore, we may not consider:
How long do I have to decide once an offer is made?
Any part-exchange offer made will be valid for 48 hours only. After this period, the Bellway London property will be placed back on the open market.
With mortgage rates from below 0.6%*, Bellway London’s partnership with Own New Rate Reducer can unlock access to some of the most competitive interest rates on the market.
This is one of several customer incentives available on selected Bellway London plots and developments. Speak with our sales advisors to find out more. For full terms & conditions see FAQs.
Bellway London gives a financial contribution of 3% or 5% directly to your lender, minus an Own New arrangement fee, enabling homeowners to unlock lower mortgage interest rates over a fixed two- or five-year period through Own New Rate Reducer. Buyers will own 100% of their home with a minimum of 5% deposit.
Bellway London will put you in contact with an accredited independent broker to give advice on the scheme. Customers should always seek independent mortgage advice before making a final decision.
Do I have to be a first-time buyer to use Own New Rate Reducer?
No, the scheme is available to both first-time buyers and existing homeowners.
Do homebuyers have to pay a fee to use the Own New Rate Reducer scheme?
No, a percentage fee of 0.22% of the house price is subtracted from the 5% housebuilder contribution (0.15% if the incentive is 3%) and goes directly to Own New as their arrangement fee.
Will I be able to afford my mortgage when the Own New Rate Reducer scheme ends?
Customers will be qualified by a regulated independent mortgage advisor and will be credit-scored by the lender to demonstrate enough income to support the mortgage payment at the headline rate, before any Own New Rate Reducer subsidy is applied over the fixed initial term.
Where does the homebuyer’s contribution go for Own New Rate Reducer?
Bellway London’s contribution will go directly to your mortgage lender through Own New, allowing buyers to unlock lower interest rates for the initial period after moving.
Are there any legal restrictions to Own New Rate Reducer?
The Own New Rate Reducer scheme is available on new homes, subject to terms and conditions, with a minimum of 5% deposit required. Please contact our sales advisors for any further information.
Who is it my mortgage will be with when using Own New Rate Reducer?
Own New Rate Reducer just sits between your broker and lender, so your mortgage will be directly with the lender.
With Own New Rate Reducer, is anything different to the normal mortgage process?
There is one small and simple addition to the normal process. A “Letter of Acknowledgement” must be sent from the developer to the buyer and broker, to be passed to the lender, before a mortgage offer can be made. Our sales advisor can arrange this for you.
What are the full terms and conditions?
*Own New Rate Reducer terms and conditions.
Own New Rate Reducer is available on selected developments and plots only, and will include a housebuilder contribution of 3% or 5% of the house asking price which is passed directly to the lender (minus an Own New arrangement fee of 0.15% or 0.22% respectively) to secure a reduced mortgage rate for an initial period of 2- or 5-years fixed. After this period your mortgage rate is likely to increase.
Whilst stocks last, subject to availability. Speak to the sales advisor on your chosen development to discuss where Own New Rate Reducer is available.
‘Mortgage rate below 0.6%’ headline interest rate is based on market interest rate available as of 14.11.24 (and is subject to change) and is based on 40% deposit, 5% homebuilder incentive, 2-year fixed mortgage rate and 25-year term. Savings made in the initial 2-year fixed period.
Subject to lender criteria and eligibility. The lender will carry out their normal criteria and affordability assessments before any Own New Rate Reducer subsidy is applied.
A percentage fee of 0.22% of the house price is subtracted from the 5% housebuilder contribution (0.15% if the contribution is 3%) and goes directly to Own New as their arrangement fee.
Applicable on new reservations only. Cannot be applied in conjunction with any other offers or selling schemes. We reserve the right to withdraw this offer at any time.
Bellway London is not regulated by the FCA and offers no mortgage advice. Customers must take advice from a regulated mortgage adviser before proceeding.
Own New Rate Reducer is one of many incentive schemes and purchasing options available to Bellway London customers.
Bellway London may receive a commission when a customer completes on a mortgage arranged by our panel of independent mortgage advisors.
Your property may be repossessed if you do not keep up repayments on your mortgage or other debt secured on it.
We've teamed up with one of the UK's leading new homes mortgage specialists, New Homes Mortgage Helpline to help find the right mortgage product for you.
Please note, by using the link below you consent to leaving the Bellway London website to go through to the New Homes Mortgage Helpline portal (The New Homes Group Limited) which offers customers unbiased, reliable and professional advice on mortgages available from a wide variety of lenders. Bellway may receive a commission when you complete on a mortgage arranged by the New Homes Mortgage Helpline through this portal.
*Subject to lender participation on selected homes and developments. Rates and maximum purchase price vary via lender. Based on Nationwide Building Society’s current guidelines from November 2021. Terms and conditions apply.
**YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Subject to status and only available on selected Bellway London developments and plots, up to a maximum loan value of £833,250. Terms and conditions apply.
