Obtaining finance is one of the biggest challenges that self builders will face, with roughly two out of three self builders needing a mortgage to see their project through.
We recommend your first point of call when seeking a mortgage for your project should be Buildstore Mortgage Services – the UK’s self build and renovation finance experts.
You will find a wide range of mortgages and exclusive deals, as flexible or as well-suited, to the specific finance requirements of your project.
To fund your project, you will need a stage payment mortgage which releases funds as your build progresses. There are two types of mortgage, defined by when you get money during the build: Traditional arrears stage payments and Advanced Stage Payments. BuildStore can help you assess your cash flow to determine which type is right for your needs, and arrange the right solution for your project.
The Accelerator mortgage from BuildStore is ideally suited for our homes. The key difference is that money is released at the beginning, rather than the end of each build stage AND you get the cash to fund the early stages of your build, including land purchase, the deposit and the assembly of your project.
Your home may be repossessed if you do not keep up repayments on your mortgage. For arranging self build and custom build mortgages, BuildStore charge a fee of £695. £95 is payable on application and a further £600 on offer. For all other mortgages BuildStore charge a fee of £395 which is payable on offer.