The lender will offer intermediaries a dedicated new build team, application case managers and direct access to underwriters. It will also instruct valuations upon submission.

Tesco Bank said it understood customers buying a new build home are often required to complete the purchase within a month or face financial penalty or losing their property.

The lender confirmed to Mortgage Solutions that brokers will receive the same proc fee for new build cases as current cases.

Tesco Bank director of mortgages, savings and loans Julian Hartley said: “We spoke to intermediaries at length to develop our new service and they stressed that speed, certainty and accuracy were vital when serving customers who are purchasing a new build property.

“By offering a dedicated team, with specialist case workers and access to underwriters we are confident that this service will be among the best available.”

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