Published 9 April 2013 · Last reviewed 1 May 2026
There seems to be a lot of confusion about the Government’s new Help to Buy scheme in relation to the criteria around new build developments and what the lenders consider to be an actual ‘new build’.
That there is only one lender currently signed up to the Help to Buy mortgage scheme with a live product, and good one at that too, so I thought it would be a good idea to clarify their position.
If a property has been built in the last few years but has not been sold then it is technically it is acceptable as a new build property and can fall under the scheme. This also includes if a property was rented by the devloper but has never been sold.
What if the property was built 3 to 4 years ago?
I gave the below scenario to the lender to ensure that we were all crystal clear on their position in regards to their definition of what is a new build.
The property was built in 2009 and it was never sold and is always been rented by the house builder until a suitable buyer was found. The lender confirmed that although the property is three years old it still falls under Help to Buy.
I hope this clarifies your questions around new build properties and Help to Buy mortgages.
Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.