Skipton Building Society has introduced a wider selection of products for new-build customers borrowing at 95% LTV, including base rate trackers and options with different fee and cashback structures.
The society said the aim is to support buyers seeking modern, energy-efficient homes by offering more flexibility at higher loan-to-value levels.
New research commissioned by Skipton shows that demand for new builds is increasing.
The survey of 1,000 prospective purchasers, carried out by OnePoll, found that 44% are considering a new-build property, compared with 30% looking at older homes.
More than half of respondents are attracted to the convenience and modern features associated with new builds, while 31% want to avoid property chains.
Sustainability is also shaping buyer behaviour, with 52% saying they would be more likely to choose a new-build home if it included features such as solar panels or electric vehicle charging facilities.
Jen Lloyd, head of mortgage products and proposition at Skipton Building Society, said: “We’re seeing a real change in what people want from their homes.
“While older properties still have their charm, more buyers are now drawn to the ease, energy efficiency and ready-to-move-in appeal of new builds.
“Our enhanced product range gives these buyers more choice and flexibility – because everyone deserves a fair chance to own a home that fits their life.”
Skipton’s latest Home Affordability Index illustrates the challenges first-time buyers continue to face, with only 11.5% able to afford a home in their local area.
The research also found that 98% of people living with parents cannot afford the average first-time buyer property near them.
Lloyd added: “Buying your first home should be exciting – not overwhelming. Too many people feel priced out or stuck.
“That’s why we’re listening to what buyers want and offering solutions that make homeownership more achievable.
“Enhancements to our new-build offering are just one of the ways we’re helping to level the playing field.”
