Self build mortgages: Everything you need to know

house under construction
(Image credit: Getty Images)

Self build mortgages are quite different to to traditional mortgages, releasing funds in stages in order to provide the cashflow needed for building a new home, paying for materials and paying your contractors. 

This makes a self build possible even for those who can't afford to finance the entire build from savings. That said, there are some limitations that come with this type of mortgage. They're less widely available, which means they may be less competitive, and depending on the type of self build mortgage you choose, the rates are typically higher than a 'standard' mortgage.

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Moneyfacts Self Build Mortgage Rates
LenderContactMax LTVAPRCInitial Payment
Beverley BS01482 88151080%7.8%£1,124.12
Hanley Economic BS01782 255 00060%7.5%£1,136
Penrith BS01768 86367575%7.8%£1,145.77
Melton BS01664 41414175%8.2%£1,145.77
Saffron BS0800 072 110075%7.8%£1,145.77
Suffolk BS0330 123 077350%8.4%£1,698
Ecology BS01535 65077080%6.5%£1,178.62