Taking on a self-build project is easily one of the most stressful things you’ll do. But it’s also one of the most exciting. Allow our specialist team to join you on the journey and help you make it happen.
Only when your self-build project is set up correctly with a suitable finance plan in place, can you have a chance of things running smoothly. And part of that is securing a loan that allows you the security yet flexibility that you need.
Our experienced team keeps an ear to the ground to find the best deals within the sector. While there’s no getting away from the fact that self-build mortgages tend to attract higher rates due to the increased risk involved, we can help you navigate the need to plan and time your project so your required funds are released at the right stages.
And when the job is done and you have your precious new build warranty in hand? We’ll be able to advise on porting your mortgage back to a standard high street bank so you won’t be paying those specialist rates longer than necessary. Want to know more.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549
Designing and building your own house is the ultimate goal for a lot of people. There are many complex steps involved in securing and releasing finance for a self-build project, but with our experience we can help you with this process every step of the way.
One of our director’s has gone through the process personally – building their own house and using a self-build mortgage in order to finance the project, so they have extensive experience of the process and can guide you through the requirements that the mortgage lenders will need for this specialised type of mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549.
In October 2016, legislation came into force establishing a right to build your own home. Councils now have a duty to grant planning permission for sufficient serviced plots to meet demand. The government’s aim was to push self-build homes up to 20,000 projects in the UK, every year.
The younger generation don’t necessarily want bigger gardens these days and with elderly relatives wanting to be close to their grandchildren too, there is a big rise on planning approvals to build new plots within existing property grounds to bring family units together.
A mortgage can be secured to purchase land, although a key factor is having enough available cash up front to get the project going in the first place. Funds are then released in stages as you move through the build and we will be able to give you advice on planning and timings for these differing stages. The mortgage lenders are also more specialised, with an increased risk to the lender in this area of lending. This is reflected in the higher interest rates that the self-build mortgages attract comparatively to a normal mortgage.
As soon as the project is complete there is scope to remortgage back to a standard high street lender, so we can advise you on this process as well. It’s vital to have a recognised new build warranty in place for the build, in order to ensure a high street lender can offer their mortgage products once you have moved in.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549.
Complete our form or give us a call. Everyone’s needs are different so we’ll gather all he info we need to help make your application as smooth as possible.
We have access to hundreds of deals. Our team will search the market and give you options that best suit your needs and save you money.
Buying a property is rarely straightforward, so our expert team will be there to guide you all the way through the process from offer to completion.
Our mortgage borrowing calculator will provide you with an approximation of how much you’re likely to be able to borrow. Mortgage affordability is subject to lots of different things, such as your credit history, monthly outgoings and deposit, and it can also vary from lender to lender.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549.
Applying for a mortgage in the UK can be a daunting task, but organising your documents well in advance can make the process much smoother. Here’s a brief overview of what you need to know…
A good understanding of the new build house buying process can help you manage your expectations and provide the insights needed to make the process as efficient as possible.
If you want to learn how to buy your first home with a small deposit, then you’re in the right place! We’ll walk you through your available options and next steps necessary to get your feet on the housing ladder. If you’ve been on the same mortgage deal for a while and have built up some equity in your current property, it might be worth looking at your remortgaging options.
