Self-Build Mortgages
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Self-Build Mortgages
A self-build mortgage is designed for individuals who want to build their own home. With it, funding is issued in measured stages, mirroring the progress of your build, rather than as a one-off payment.
This tailored financial flow ensures your project maintains momentum from foundation to finish. Our advisors can guide you through the requirements and help you understand the details of managing a self-build project.
Our Self-Build Mortgage Expertise
Drawdown Mortgage
This versatile mortgage solution allows you to draw funds from the equity in your home as and when you need them, giving you control over your finances with a safety net that supports your lifestyle.
How Is Money Released?
Self-build mortgages turn your construction milestones into opportunities for capital release, with money being released at key stages of the project.
Release Stages
After the lending process, the money for the build is released in stages. These stages can be fixed or flexible, depending on the lender, but there are typically six.
Providing Financial Scaffolding for Your Home
Funds for your build can be accessed via two routes: post-completion of each phase (arrears stage payments), or before each phase begins (advance stage payments).
Typically, self-build mortgages require a larger deposit than traditional mortgages. You’ll probably be looking at 25-30% of the combined land & build costs.
Depending on the terms of your self-build mortgage and your living arrangements’ safety and legality, you may be able to live on-site during the building process. We’ll help you to understand your lender’s terms.
This is risky with a self-build mortgage, so it is vital to have a well-planned budget with contingency funds in the case of an over-budget scenario.
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