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SELF BUILD MORTGAGE
SELF BUILD MORTGAGES A QUICK GUIDE
Ever wondered what it would be like to plan and build your own home?
The self-build process does not have to be complicated, so how does it work?
The first stage is to find a lender who will provide funding whether by stage payments in arrears or in advance, both are available.
Funding is usually provided in four stages during the build process, some lenders will provide funding up to 75% on the plot value alone to allow you funding to get the project started.
Not all lenders will provide 95% lending so it is best to know who will be the most suitable lender for you.
Once the funding has been agreed your ready to find a suitable plot and builder, the builder will often provide an in house architect who will guide you through the options of design and planning and will supervise the construction on your behalf.
The build process may take several months but this is normal.
The rewards of building your own home are very rewarding from a comfort/lifestyle aspect with the added benefit of the potential for the cost of building being a lot less than the end valuation.
Seek early advice also from a Solicitor, as it will be important that the ground you are about to purchase has indeed planning permission.
For further information on this type of property project and how to finance it simply give us a call on 0844 800 1137 or just complete the brief ENQUIRY FORM and we will get back to you and be of help in any way we can without any obligation.
Just either give us a call on 0844 800 1137 or use the brief ENQUIRY FORM and see how we can help you.
