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Self Build Mortgages - who provides?

LJS_2
LJS_2 Posts: 6 Forumite
in Mortgages & endowments
Hi

Any ideas who provides self build mortgages? We have bought a site and have obtained full planning permission. Have started (diggers have dug foundations and 1st level of concrete is in) but apparentely a lot of lenders won't lend to us as we have started. Doesn't make sense to me as we have enough savings to buy the site and about 50K to get started so why they don't want to lend to us I don't know!

Thanks

Comments

  • Mrs_Bumble
    Mrs_Bumble Posts: 1,028 Forumite
    Speak to an independent mortgage broker they can access providers who specialise in self build.
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Muhasib
    Muhasib Posts: 236 Forumite
    the Ecology BS lent to a friend of mine to build his place
  • blue-kat
    blue-kat Posts: 453 Forumite
    Mrs_Bumble wrote: »
    Speak to an independent mortgage broker they can access providers who specialise in self build.

    how does one find one of them? :)

    We've started rebuilding the derelict coach house in our yard, paid for stage one (foundations etc) and now need to refinance to keep going.

    We're waiting on figures for rest of work, and wondering if self build mortgage is the way to go for increased LTV, based on value of completed project.

    our tracker deal has expired, and mortgage adviser we used before isn't replying to emails.
    :confused:
    ta
  • Mrs_Bumble
    Mrs_Bumble Posts: 1,028 Forumite
    Ask around friends and families see who they have used, word of mouth is usually the best way.

    Could your mortgage adviser be on holiday? Have you tried phoning?
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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