Self Build or Refurbishment Mortgages

In general, these mortgages are released in stages as you complete the work either in advance or, more often, in arrears.

They are often a short-term lending product, on an interest only basis until the property is finished, at which time a longer-term mortgage replaces the Self Build Mortgage.

There are more hoops and hurdles to go through with this type of mortgage, but we can help you every step of the way!

For example :-

• You will, of course, need Planning Permission.
• Lenders will want to know if you have experience yourselves, or if the project is going to be run by a builder or an architect for you.
• They will want careful costings and a provision for unforeseen costs too!  Ideally, lenders like to see fixed price contracts, but this is not always the case.
• You will need a Building Warranty which will be acceptable to Lenders when you complete the property, otherwise you may be unable to raise a mortgage against the property or could face problems if you wanted to sell it at a later stage.
• When looking at affordability, Lenders will look at your short-term living arrangements too.