New Build Boost is an exciting new scheme provided by Gen H, designed to unlock home buying affordability for aspiring new homeowners.
Supported by Lovell Homes and available at selected developments, the scheme comprises an 80% mortgage and a 15% interest free boost to add to your (minimum) 5% deposit.
By filling the gap left when the Government-backed Help to Buy scheme ended, it gives you access to an 80% LTV (Loan to Value) mortgage, helping make your new Lovell home more affordable than you might have thought possible.
Boost your budget
by 15%!
How New Build Boost works:
There are 3 constituent parts to the New Build Boost scheme:
Your Deposit
5% - 15%
of property value
Can include gifts
from family
Your Mortgage
A standard capital
repayment mortgage
from Gen H
70-80% of property value
Special rates apply*
New Build Boost
Equity loan
15% of property value
Interest-free forever
*Subject to your mortgage application being accepted. Available only on new builds at selected Lovell Homes developments.
Build Boost Calculator
See how much you could afford to borrow with the New Build Boost calculator
View developments offering New Build Boost
New Build Boost is available on selected new homes in England and Wales.
Boosting affordability for you
Example:
You wish to buy a new Lovell home that costs £250,000.
You have saved a 5% deposit of £12,500
If New Build Boost is available on this home, Gen H could provide a standard mortgage* of up to 80% (£200,000). The remaining 15% will be made up by an interest-free boost (equity loan), also from Gen H.
The 15% loan is interest-free for the lifetime of the loan. It can boost your affordability and potentially increase the amount that you can borrow from Gen H, helping you to buy the home you love.
The value of the boost is fixed for the first 5 years of your mortgage.
What then?
If you choose to keep the boost beyond 5 years, the balance will increase or decrease to reflect any change in your property’s value since you bought it. Then it’ll continue to go up or down as the property value changes over time.
Alternatively, you have the option to pay it back and switch to a standard mortgage product.
Ready to get started?
- Find out where New Build Boost is available. Search developments >
- If it is available at your preferred development, call that number and talk to a friendly Lovell sales advisor.
- They will be able to determine if you are eligible for New Build Boost and arrange an appointment for you.
A little more about Gen H
Gen H is a mission-driven mortgage lender, helping make homeownership accessible for everyone.
Gen H created New Build Boost to help people buy a house they might not otherwise have been able to afford – helping them get on or take the next step on the property ladder.
New Build Boost FAQ
Provided by Gen H and supported by Lovell Homes, New Build Boost is a mortgage scheme provided by Gen H to help new build buyers boost their budget.
There are 3 consituent parts:
The Mortgage
A standard 80% LTV mortgage from Gen H. Standard criteria, policies and processes apply.
The Boost
A 15% interest-free equity loan from Gen H, supported by the home builder. The value of the boost is fixed for the first 5 years, after which it goes up or down based on the value of the property, but is interest-free forever. The repayment value of the boost is capped at twice what was originally borrowed.
The Deposit
A 5% buyer deposit. The deposit can be a gift from friends or family, come from savings, or any other standard deposit source.
You require a minimum of a 5% deposit.
New Build boost is only available at selected Lovell Homes' developments. You can view developments where new build boost is available here.
Terms and Conditions
- New Build Boost is available on a limited number of Lovell Homes developments.
- New Build Boost is an equity loan. You may pay back more than you borrowed. Specific mortgage rates apply, speak to a mortgage advisor.
- Eligibility is at Lovell Homes’ discretion, is subject to receiving regulated advice from an approved mortgage broker and is ultimately subject to lender terms and conditions.
- New Build Boost cannot be used in conjunction with any other scheme.
- The boost is an equity loan and you may pay back more than you borrowed. Specific mortgage rates apply.
- If you stop paying your mortgage, you could lose your home.
This promotion is approved by Imagine Mortgages Limited, t/a Gen H
Imagine Mortgages Limited, Trading as Generation Home and Gen H, is a company registered in England and Wales under number 11465987.
Imagine Mortgages Limited are authorised and regulated by the Financial Conduct Authority. Reference number: 921355. Address: 1 Old Street Yard, London EC1Y 8AF.
