Beginner's Guide - Finance

Providing you have a regular income and a good credit history, you should have no difficulty in obtaining a loan to build your own home or to undertake a renovation or conversion project.

For details of lenders that offer specialist mortgages for homebuilding projects, see the table below. For full details of mort gage stage payments, and terms and conditions, contact the lenders direct. In addition, you should also consider approaching your existing mortgage provider as they may be able to provide funding under unconven tional arrangements. Some lenders may also consider a commercial arrange ment, which is likely to be at a higher interest rate than personal equivalents.

Specialist renovation finance is available which may offer additional payments, in stages, in advance of work being carried out on properties. BuildStore (www.buildstore.co.uk) is a useful starting point for this type of finance.

Download the pdf below for a full guide to Stage Payment Mortgages for Self Builders*

*all information correct as of July 2009 

 

Further reading:

Back to Beginners Guide Homepage

 

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Issue date:
August 2008
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Useful links

ASBA National Network of Local Architects
BuildStore
DMS Self-build
First Commercial Insurance Brokers
LABC (LABC New Home Warranty)
NHBC (National Housebuilding Council)
Premier Guarantee
Project Builder
Self-Build Zone
The Chartered Institute of Architectural Technologists (CIAT)
Zurich (Building Guarantee)
Attachment(click to download)
Self Build Mortgage Guide September 2009.pdfSelf Build Mortgage Guide September 2009.pdf

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