<< Back to News & Inspiration | Finance & Advice

Why Now’s a Great Time to Buy a New Build Home

June 5th, 2025

With the property market shifting and mortgage rates changing, it’s easy to feel unsure about when or how to make your next move. That’s why we sat down with Andrew Mannion, an experienced mortgage specialist at RSC New Homes, a trusted partner of Eccleston Homes. He shared his take on the current mortgage market, what buyers need to know, and why new builds are looking more attractive than ever.

Andrew, what’s happening in the mortgage market right now?

We’re seeing a much more positive outlook than this time last year. Mortgage rates are stabilising and, in many cases, coming down. The Bank of England base rate is currently 4.25% and likely to fall further, so lenders are responding with more competitive rates.

On average, it’s about 25% cheaper to buy now than it was 12 months ago, which is a big shift. That’s great news for both first-time buyers and people looking to move up the ladder.

Is mortgage affordability improving too?

Absolutely. Lenders are offering higher income multiples, up to 5.5 or even 6 times your income in some cases. We’re also seeing mortgage terms extended to up to 40 years, which helps bring monthly payments down and opens the door for many buyers who previously couldn’t afford to buy. A longer mortgage term can assist with affordability in the early years, when you may want to keep costings as low as possible. Most mortgage products also allow overpayments each year, meaning you can manage your mortgage and reduce the term in the future. As a whole of market mortgage broker, we can advise on restructuring your mortgage term down the line if your circumstances change.

In fact, most buyers today are able to borrow £60,000 to £80,000 more than they could a year ago.

Why is now a good time to consider buying a new build home?

There are a few key reasons:

• Energy efficiency. New build homes, like those from Eccleston Homes, are often A or B-rated. That means lower energy bills and access to “green” mortgage products with better rates or incentives.
• No maintenance surprises. Everything’s brand new, so you’re not worrying about costly repairs like a new roof or boiler in your first few years.
• Exclusive mortgage deals. Lenders often reserve their best offers, like cashback or higher loan-to-value ratios, for new build properties.

So when you combine all that with improved affordability and lower rates, it’s a really strong time to buy new.

How have lending rules changed recently?

The big change is in how lenders assess affordability. Until recently, buyers had to be “stress tested” at a much higher interest rate than the one they were actually applying for, often around 9%. That has now been relaxed.

Lenders can now base affordability on the real interest rate, which could be as low as 4%. That change alone can significantly boost how much a buyer can borrow, especially when you factor in energy-efficient homes, which also help affordability.

What support is out there for first-time buyers?

There are some really helpful products available right now. One example is the Skipton ‘Delay Start’ mortgage, which lets eligible first-time buyers delay their first three mortgage payments. That’s a huge help when you’re juggling moving costs and buying furniture.

Then you’ve got Nationwide’s Helping Hand mortgage, offering up to six times income for first-time buyers who meet certain thresholds. These aren’t always available through high street lenders, so speaking to a specialist broker like RSC New Homes can really make a difference.

Some buyers worry new builds are more expensive or too small. What’s your view?

It’s a common misconception. Yes, the upfront price might sometimes be slightly higher than a secondhand home, but when you factor in lower energy bills, no renovation costs, and better mortgage rates, the total cost of ownership is often much lower.

And modern new builds are designed with real life in mind. Eccleston’s homes, for example, often feature 2.5-storey layouts and spacious living areas, far from the “boxy” image people sometimes have.

Any final advice for buyers?

Don’t assume you can’t afford to buy. With the changes in lending criteria and the tailored mortgage products available for new builds, you may be able to borrow more than you think and on better terms.

We’ve helped buyers who thought they could only borrow £150,000 but ended up securing £210,000 with the right product. So it’s always worth exploring your options.

New build homes offer a range of benefits that make them an appealing choice in today’s market. With energy-efficient features that lead to lower bills and access to better mortgage rates, along with improved borrowing power thanks to recent lending changes, buyers are in a stronger position than they might think. First-time buyers also have access to exclusive products designed to make the process more manageable. And with no unexpected maintenance costs and modern, well-designed layouts built for real life, a new home offers peace of mind and room to grow.

If you’re thinking about your next move, or your first one, a new build from Eccleston Homes could offer more than you expect.