Self Build Mortgages

Self Build Mortgages

Inspired by home improvement programs over 20,000 people build their own home in the UK every year.

Building your own home offers many advantages such as choosing a layout that suits your lifestyle, location and not to mention that building your own home is cheaper than buying a ready built home from a builder.

Thinking of building your own home?

If so then you will need a specialist self build mortgage offered by selected lenders only.

Speak to our FSA regulated self build mortgage advisors who can help you find the right mortgage at a competitive rate. Simply complete the short enquiry form below and our advisors will be in touch.

Self build mortgages differ from standard mortgages because unlike standard mortgages which release funds in one lump sum, the self build mortgage releases the funds in phases. Usually there are up to 6-8 stages. These include purchase of land, laying of foundation, build to eaves level, roofing stage, plastering stage and finally the completion.

What types of self build mortgage are available?

There are two main types of mortgage options available. The first is the arrears – based mortgage, which releases the funds on completion of each stage. The second is the advance payment mortgage which releases the funds at the beginning of each stage.

Before a lender will consider your application for a mortgage you will need to provide detailed plans and costings for land, professional fees, building work and materials plus any project management costs.

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