Where To Source Self Build Mortgages?
10:50 AM, 22nd February 2015, 11 years ago
6
Categories:
Can anyone advise me where to source a Self Build Mortgage?
I am looking to split the grounds of my house and build another house to live in.
Many thanks
Hendry Robinson
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
or
Previous Article
Has anyone experienced situation where debtor has lied in court?Next Article
Old Gas Boiler for new - Tenant won't sign!!
Member Since January 2011 - Comments: 12212 - Articles: 1408
1:11 PM, 22nd February 2015, About 11 years ago
Hi Hendry
I have asked a couple of our recommended mortgage brokers to comment on this discussion thread.
.
Member Since October 2014 - Comments: 40
12:15 PM, 23rd February 2015, About 11 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
🙂
Member Since September 2013 - Comments: 104 - Articles: 3
12:28 PM, 23rd February 2015, About 11 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 >>> https://www.property118.com/member/?id=1313
.
Member Since February 2015 - Comments: 1
1:41 PM, 23rd February 2015, About 11 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.
Member Since October 2014 - Comments: 40
1:53 PM, 23rd February 2015, About 11 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.
Member Since February 2015 - Comments: 1
8:28 PM, 25th February 2015, About 11 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!