We're experts in self build mortgages
What is a self-build mortgage?
Self-build mortgages differ from traditional mortgages in that they release funds in phases as the construction advances, rather than paying a single sum to acquire the house.
Fixed, variable, offset, and discount mortgages will be available, as well as the opportunity to refinance your current home.
Lenders will obviously be apprehensive if you choose an alternative construction approach or a green eco home. There are a handful out there who could be willing to take you on, including Ecology Building Society.
What are the stages of a self-build mortgage?
1
Purchase of Land/Property
2
Preliminary Costs & Foundations & Structural overhaul.
3
Wall Plate Level Timberframe Kit Erected. Wind & Watertight
4
Plastering & Services
5
First Fix
6
Second Fix to Completion
What are the requirements for a self build mortgage?
- Planning permission: At least outline permission for the land purchase and detailed for build costs.
- Building regulation approval.
- Plans and specification.
- A full set of build costs.
- Evidence of your registration with a warranty scheme.
- Details of your builder and their qualifications.
- Insurance documents.
- Other supporting information.
