Which self build mortgage?

turramin

Hello,

I am building a new house next year and will require a self build mortgage , where can i get the best deal in this turbulent times?

I already own the land, have planning permission, I want to borrow £130,000 I have 10% deposit (I can possibly increase this).I have no outstanding debts or credit cards.

Also, is it possible to borrow against the value of the completed house eg: if the house would be worth £260,000 when complete can I borrow 50% of this or would I have to get a mortgage that was 90% of the build cost?
Cheers!

Janet57_2

Hello Turramin

We are also self builders. For loads of info on resources such as mortgages I would suggest taking a look in the Build It magazine or Homebuilding and Renovating. They both have websites. There are several other mags published monthly. Really useful features in them. There is also the self build shows at Excel London and Birmingham NEC and other sites. I don't think there is another this year tho, but the websites will tell you.

Build Store is one of the mortgage lenders advertising and I believe well respected.

Hope this helps.

Janet