self build mortgage rates?

rover25

Would anyone have any ideas of the rates for a self build (in N.I)
Would have the house site from family. Would just need build costs. Have no idea about rates though. Do they be higher when building and then come down? and who offers self build mortgages in NI?
Do you need a deposit if you already own the site- do they take that as an asset?

CL

You can use your site as the deposit. We used Leeds Building Society, but I'm sure the rates have changed since we arranged ours.

Colin_Kee

Good luck in getting the planning permission... maybe now the Executive are off their asses (Potentially) they can scrap that crap PPS14 and implement a more "Country" friendly regulation..

36square

And pepper the countryside with even more ugly houses.
Hopefully they might introduce minimum taste standards i.e. ban all those hideous false Georgian plastic windows.

Colin_Kee

36square wrote: »

And pepper the countryside with even more ugly houses.
Hopefully they might introduce minimum taste standards i.e. ban all those hideous false Georgian plastic windows.

No I said a "more Country friendly regulation.." Stopping all building is NOT Country Friendly.. And I would be top of the list to agree with a ban all these big ugly houses popping up everywhere or a mass of bunglows appearing everywhere. I would like to see proper attention put on the requirements of people living in rural area.. there's more to Northern Irelnad than Bellfast and its' ""Suburbs"" Life does exist west of the Bann although I do think some people still believe the world is small & flat and they fall of the edge if they go further west than Portadown!!

Sort of gettingof the subject of this thread.. oops...

Colin_Kee

36square wrote: »

And pepper the countryside with even more ugly houses.
Hopefully they might introduce minimum taste standards i.e. ban all those hideous false Georgian plastic windows.

No I said a "more Country friendly regulation.." Stopping all building is NOT Country Friendly.. And I would be top of the list to agree with a ban all these big ugly houses popping up everywhere or a mass of bunglows appearing everywhere. I would like to see proper attention put on the requirements of people living in rural area.. there's more to Northern Irelnad than Bellfast and its' ""Suburbs"" Life does exist west of the Bann although I do think some people still believe the world is small & flat and they fall of the edge if they go further west than Portadown!!

Sort of getting of the subject of this thread.. oops...

Colin_Kee

rant over... Apologies

rover25

Are rates much higher for self builds during build or do they work the same as ordinary mortgage rates?

mr._prude

Am hoping to build too still trying to sell my house though heard of borrowing against the land/site for self build.

Would be very interested to know of typical rates compared to standard mortgage;)

P

CL

There are not a lot of places that offer them so therefore less competition and higher rates, Typically you will be looking at over 7%

rover25

Are they always as high. Was chatting to someone albeit from the south and they had reckoned that rates for self build are similar to ordinary mortgages.
I did think they were higher myself but not sure what to make of what they said.