What are self build mortgages

Self build mortgages are designed for people who are willing to put in the time and hard work to construct their own home.

A major benefit of building your own home rather than buying one is that the overall cost can be significantly less. Another is that you are able to build something that fits your specific requirements. The downside is that it can involve a lot of hard work, uncertainty and a great investment of your time.

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There are a variety of mortgages for self builders, some of which are designed to release funds in a gradual, staged manner as each new phase in the construction process is completed. For example, Agreed stages might be the purchase of the land itself, preparation of the foundations, wind and waterproofing the building and so on.

This used to mean that self builders had to have a lot of disposable income in order to start the building process. However, there are newer self build mortgage options which allow self builders access to funds before the completion of each stage, rather than after, which can help get the ball rolling.

Another benefit of some of the newer self build mortgage products is that they allow you to remain in your current home while you build your new one. In the past, self-builders were presented with only two options: sell their home and rent accommodation during the building process, or live on-site in a caravan or mobile home. Now, you can remain in the comfort of your current home, should you choose to.

Finding the right self build mortgage providers

Whatever your situation regarding the size, complexity and budget of your planned construction, we’re ready to find the best mortgages for self builders.* We constantly seek out the most competitive rates from mortgage providers across the UK in order to give our customers the best options available to them.*

* The term ‘best’ is very restricted within the current regulated market place we operate in. For clarity we access our mortgage deals from a panel of lenders which is representative of the whole market.