Self build mortgages

GlitterQueen_2

Hi All
Im looking for information about self build mortgages. Websites of mortgage lenders seem to me to presume consumers know the product fairly well. I dont know anything but its an option Id like to explore. Does anyone have experience of self build mortgages? any hints or tips on best buys or what to look for with a self mortgage?
Any help appreciated.

amnblog

There are few available on the market.

You can use them for a build or major renovation.

Expect to have detail planning permission and fullcostings for the work.

You drawdown more funds as the work progresses.

Although the final borrowing maximum is based on the completed value the biggest barrier we see is borrowers having no where near enough deposit.

Expect to have 30 or 35% of the value of the initial purchase as a start.

You need a broker, but you do not need one who has not done these cases before.

Expect to pay a broker fee. If the broker is not charging a fee then they do not know want they are doing as these cases are very labour intensive.