According to a major report into the self build industry, 44% of self builders rely on some kind of mortgage or borrowing to finance their project, with one in five choosing a specialist self build mortage.

With a self build mortgage, funding is released at key, identifiable stages during the process rather than all at once upon completion. Common stages are plot purchase, foundations, wall plate, weathertight, first fix and completion.

Typically, stage payments for the traditional type of self build mortgage are released in arrears of work being completed, but specialist self build mortgage brokers Buildstore have developed an ‘Accelerator’ product which allows payments to be made before stages are commenced, removing the need for expensive bridging finance.

Commonly, most self builders convert their self build mortgages to regular property mortgages once the project is completed.

Find out more on how self build mortgages work here

Best Self Build Mortgage Deals

Lender Max LTV on Land First Stage Payment LTV End Value Interest Rate
Bath Building Society Max 95% Building Regs Max 80% 4.74%
Beverley BS Max 75% Wall Plate Max 75% 4.75%
Buckinghamshire BS Max 85% Foundations Max 85% 4.84%
Chorley & District BS* Max 85% Foundations Max 80% 4.49%
Cumberland BS Max 75% Flexible Max 85% 6.24%
Darlington BS Max 85% Building Regs Max 80% 5.49%
Darlington BS (AR) Max 80% Foundations Max 80% 4.99%
Dudley BS Max 50% Foundations  Max 75% 5.49%
Earl Shilton BS (AR) Max 50% Foundations Max 75% 6.24%
Ecology BS** Max 80%  Flexible Max 90% 4.65%
Furness (AD) Max 80% Building Regs  Max 80%  4.70%
Furness (AR) Max 80%  Foundations  Max 80% 4.24%
Halifax (AR) Max 75%  Foundations  Max 75% 5.70%
Hanley BS (AR) Max 85% Foundations  Max 80% 4.49%
Hanley Economic BS (AD) Max 85% Building Regs  Max 80% 4.79%
Hinckley & Rugby BS (AR) Not on land  Footings Max 80% 5.89%
Holmesdale BS (AR) Max 85% Foundations Max 80% 4.99%
Ipswich BS (AR) Max 75% Foundations  Max 80%  3.99%
Loughborough BS (AR) Max 80% Foundations  Max 80% 4.14%
Mansfield BS (AR) Max 80% Foundations  Max 80% 4.99%
Mansfield BS (AD) Max 85% Building Regs  Max 85% 5.44%
Melton Mowbray BS (AR) Max 75% Foundations  Max 75% 4.59%
Newbury BS (AR)  Max 66% Foundations  Max 75% 4.20%
Newcastle BS (AR) Max 80%  Foundations  Max 80% 4.99%
Nottingham BS (AR) Max 65% Foundations  Max 75% 4.39%
Progressive BS (AR)  Not on land Wall Plate  Max 75%  3.99%
Saffron BS (AR) Max 75% Negotiable Max 75% 4.20%
Scottish BS (AR) Max 60%  Foundations  Max 80% 5.89%
Stafford Railway BS (AR) Max 85%  Foundations  Max 75% 4.25%
Tipton & Coseley BS (AR) Max 85% Foundations  Max 75% 4.49%
Vernon BS (AR) Max 75% Wall Plate  Max 75% 4.70%
Virgin Money*** (AR) Max 85% Foundations  Max 85% 5.24%
Some of these banks and building societies only offer through Buildstore Financial Services Ltd Royal Bank of Scotland offer finance via bridging loan facility. ** Ecology Building Society will lend on ecologically designed houses only. Restricted lending areas may apply. *** Virgin Money only lends on Custom Build. (AR): Arrears stage payment mortgages; (AD): Advanced stage payment mortgages. FIGURES UPDATED: April 2018

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