Self Build Mortgages
Self-Build Mortgages – Finance Your Dream Home
Building your own home can be a rewarding way to create a property tailored to your exact needs. A self-build mortgage provides the necessary funding, releasing money in stages as your project progresses. Our expert advisers can help you find the best mortgage to make your dream home a reality.
What is a Self-Build Mortgage?
A self-build mortgage is specifically designed for those constructing their own home. Unlike traditional mortgages, where the full amount is released upfront, self-build mortgages release funds in stages to cover the cost of construction at different phases.
How Does It Work?
Funds are released at key stages of construction, such as land purchase, foundations, walls, roof completion, and final finishings.
You may need to start with a deposit of at least 20-25% of the total project cost.
Lenders may require detailed project plans, planning permission, and a fixed budget before approving your loan.
You can choose between arrears stage payments (funds released after each phase is completed) or advance stage payments (funds released before work begins, suitable for those with less upfront capital).
Who is Eligible for a Self-Build Mortgage?
Anyone looking to build their own home, whether from scratch or as part of a custom-build development.
Those with approved planning permission and building regulations in place.
Individuals with a clear and structured budget for their project.
Benefits of a Self-Build Mortgage
Lower costs – Building your own home can be more cost-effective than buying a completed property.
Greater design flexibility – Customise every aspect of your home to suit your lifestyle.
Potential for increased property value – Many self-build homes end up being worth more than the total construction costs.
Interest-only options available – Some lenders offer interest-only payments during the build, reducing upfront costs.
Key Considerations
A larger deposit is required compared to standard mortgages.
You will need to manage cash flow carefully as funds are released in stages.
The application process is more complex, requiring detailed plans and budgeting.
Some lenders require you to live elsewhere during construction, so temporary accommodation costs should be considered.
Why Choose Us?
Expert self-build mortgage advice – We guide you through the complex application process.
Access to specialist lenders – Not all lenders offer self-build mortgages; we find the best deals available.
Support throughout your project – We help manage the financial side so you can focus on the build.
Tailored mortgage solutions – Ensuring affordability and suitability for your specific project needs.
Get Started Today
If you’re ready to build your dream home, we’re here to help. Contact us today for expert self-build mortgage advice and a free consultation.
