The lender’s standard offers are valid for 90 days, with a 30-day extension available upon request.

However, offers on new-builds are now valid for 180 days and can be extended by a further 90 days depending on circumstances.

Tony Hall, head of sales and marketing at the lender, said that buyers of new-build properties will often purchase a home off-plan, months before the building work is actually completed.

He continued: “By introducing a six-month offer period, with the potential for a further three-month extension, we are making it easier for customers who are underserved by the high street to buy a brand new home.”