A to Z guide to buying a new-build property - N

Negative equity

If the value of your home plummets to below the amount of money you owe your lender.

New-build property

Brand new property built by a housebuilder or private builder. May come with a range of incentive programmes, such as part payment towards your house deposit with a low or no-interest loan that has to be paid off within a certain period of time, or when you sell your home.

NHBC (National House-Building Council)

Building guarantee on new-build homes that insures you against structural damage for a specified period of time.