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Self Build Mortgages

Whole of Market Access to all Self Build Mortgages

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14 years providing excellent advice

We are experts in self build mortgages and can help make the process simpler

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How much can I borrow ?

If you already own the land then this puts you a simpler position as you can immediately drawdown from the value of the land. If you do not and require lending for the land and the build then you typically require a minimum of 15%  deposit of the land value and the build cost . The lender would lend up to  up to 75% of the final value.

A self build is assessed similar to a normal mortgage, which will be based on your personal incomes , liabilities and personal circumstances.

Arrange a call with our advisors  who talk you through the process and work out the affordability .

 

 

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What do I need to consider for a self build ?

A very simplified summary of the process is :

 

  1. You should always include a 10% contingency
  2. Have a clear vision of who will be doing the build , who will be doing the build and the costs.
  3. Find a suitable plot or renovation project
  4. Have the property designed – Find an appropriate Architect
  5. Find a suitable Builder
  6. Get planning permission in place
  7. Make sure Building Regulations are adhered to
  8. Arrange Finance and make sure you qualify for the finance
  9.  Consider the costs to make sure its affordable and planned out

 

These are very basic considerations, our advisors will be able to assist you with the detailed points to consider.

 

 

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What is a self build mortgage

A self build mortgage is a home loan you take out to buy land and finance building your own house. Funds are typically released in instalments to be allocated to different stages in a build including the first stage… buying the land! Keep in mind it’s important to know if your money will be released at the end of a payment period or the beginning so you can remain on top of your project.

 

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