Your home may be repossessed if you do not keep up repayments on your mortgage.
Self-Build mortgages are for those people who intend to build their own house or have a house built for them to a design of their choice. The project normally starts with the purchase of a plot. Future funds are then released in stage payments at the standard build stages, subject to regular revaluations upto the lenders maximum loan-to-value depending on criteria. If you already own the plot you can possibly borrow against the plot at a percentage of the value to help raise money to fund the building work.
You will have to provide detailed plans of build costing’s and you build schedule as well as the normal information a lender would require in order to assess your circumstances to support your mortgage application.
Many developers are looking at ways to finance their development projects without risking large amounts of their own capital. We have a variety of solutions for developers wanting to fund their projects whatever the size of development or funds required for every kind of developer or small builder, including new build or renovations to offices, warehouses, factories and shops.