self build mortgage rates in NI?

rover25

Can anyone share their self build mortgage interest rates. Interested in purchasing a site and building but have no idea about self build interest rates and can't seem to find any info on any of the main lenders websites.
Thanks:beer:

mcclim

I did a self build project 5 years ago, I had my mortgage with the nationwide, I had a normal mortgage with them.... they might still do the same mortgages for self build as normal houses.

CL

We got our self-build mortgage with the Leeds Building Society. I will check the rate later & pm you.

Hilltop666

Hi there, we are soon to be building in NI we looked at mortages at around November time and most rates were 3% - 3.2% i hope they are still around the same now. Hope the helps!

Snoozle

I used to work for many years in one of the 'local' banks mortgage department. For us, self build mortgages were exactly the same interest rates available as any other mortgage. They were not by any means an innovative, market leader type of company, so I'm guessing if they did this, then plenty of other places do it too!

rover25

Thanks everyone:beer:
Can I ask people what sort of ltv ratio they had. Was anyone's above 80%?

CL

When we enquired about a self build mortgage, the difference between them and other mortgages was that you used your site as equity and it was drawn down in installments. They valued our site and estimated the finished value of the property before the mortgage was approved.