Where To Source Self Build Mortgages?

by Readers Question

10:50 AM, 22nd February 2015
About 4 years ago

Where To Source Self Build Mortgages?

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Where To Source Self Build Mortgages?

Can anyone advise me where to source a Self Build Mortgage? Where To Source Self Build Mortgages?

I am looking to split the grounds of my house and build another house to live in.

Many thanks

Hendry Robinson



Comments

Mark Alexander

13:11 PM, 22nd February 2015
About 4 years ago

Hi Hendry

I have asked a couple of our recommended mortgage brokers to comment on this discussion thread.
.

james pearce

12:15 PM, 23rd February 2015
About 4 years ago

There are plenty out there.
Some don't lend on the land but guess that won't worry you.
I have a list of 20 odd pinned to my board.
Norwich and Peterborough and BM solutions are two popular ones.
Just buy a copy of a self build magazine from the newsagents.
Can't wait to do another 'self build' myself
🙂

John Constant

12:28 PM, 23rd February 2015
About 4 years ago

Thank you Hendry and Mark,

As always, best advice is to use your Mortgage Adviser. He or she will have access to the latest up to date deals along with a detailed knowledge of the criteria required. Different lenders will have different requirements regarding stage payments etc, so it is not an easy thing to do yourself.

If you would like to talk through your plans, please feel free to contact me via my profile. We (HD Consultants) have an existing business relationship with Property 118.

Link to my member profile and contact form >>> http://www.property118.com/member/?id=1313
.

Anth Hubbard

13:41 PM, 23rd February 2015
About 4 years ago

As above I would go through a broker. I have had two self build mortgages, both were arranged through Buildstore and were Advance Payment mortgages. The payment stages were Land, Damp, Roof Plate, Water Tight, first Fix, second fix, completion. I had to get an architect to sign off each stage, but I think some now send out their own assessor and can charge a few hundred pound per visit.

james pearce

13:53 PM, 23rd February 2015
About 4 years ago

whatever route you take as Anth says Buildstore are a mine of information and specialists as this type of thing!!!
You will find a massive amount of info on their website and the homebuilding and renovation centre in Swindon is excellent.

David Casey

20:28 PM, 25th February 2015
About 4 years ago

Hi,

I am in edinburgh Scotland and got mine approved last Nov 14 from the scottish building society.

As Anth Hubbard has stated above the payments are claimed after the work is done but you use your deposit to start the build after you buy the the land. The SBS will pay 75% of the land costs and you pay the other 25% with your deposit.

I did however have to have a £65,000 deposit so rules are strict!


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