New builds | Notion

If the flat/maisonette has been converted or first occupied in the past 24 calendar months, it is considered a new build from the date of conversion or first occupation.

For information regarding New Build loan specifics and additional criteria, refer to the Maximum LTV page:

Maximum LTV

If the flat/maisonette has been converted in the last 10 years, it must have the benefit of an acceptable New Build Warranty of Professional Consultants certificate in standard CML format (see acceptable list of warranties below).

New Build Certificates

For any property built or converted within the last 10 years one of the following certifications will be required:

National House-Building Council Buildmark Scheme (NHBC)
Zurich Municipal Newbuild Scheme
Zurich Municipal Rebuild Scheme
Premier Guarantee for Private and Completed Housing
Build Assure (FMB)
Building Life Plans Scheme
Buildzone
LABC Warranty
LABC Warranty Scheme
ICW Warranty Scheme
One Guarantee Warranty Scheme
Castle Ten / checkmate
Global Home Warranties
Protek
Q Assure
Advantage HCI
UK Finance Compliant Professional Consultant’s Certificate (Where the Professional Consultants acceptable qualifications and indemnity cover are checked by the solicitor in accordance with the UK Finance Mortgage Lenders’ Handbook 6.7.4. - The Architects Certificate must be completed on Professional Consultant’s Certificate Format which is available on the CML website (www.cml.org.uk/handbook))

New Build Valuations

Valuations can be assessed using the floor-plan provided by the Builder and also the plot map. The market value is derived from that plus comparable property information. A re-inspection may be required where;

there are significant changes from the floor plan reviewed by the valuer
it has been specified by the valuer within the original valuation report