With effect from 1 June 2012, our definition of a New Build property will change. See below for full details, and read on for clarification of our criteria on 'Try Before You Buy' schemes.
New Build property definition
From 1 June 2012, our definition of a New Build property will be revised to:
'A property that has not been purchased (even if it has been occupied) within two years of being newly constructed, converted or refurbished.'
'Try Before You Buy' schemes
Where a property is within two years of being newly constructed, converted or refurbished, we do not accept applications submitted under 'Try Before You Buy' schemes (also known as Rent to Buy).
If your client is purchasing under a 'Try Before You Buy' scheme where the property was constructed, converted or refurbished more than two years ago, your client's case can be submitted as a normal purchase of a second hand property.
See our full list of application types and how they can be submitted here.
Help and Support
If you've got a question about this change, you can phone our dedicated Sales Support team on 0845 601 0763 or contact your local BDM.