Self Build

Grg727

Hi All,

We will be commencing our new build in the next few months and was looking some advice / experience of the self build mortgage process.

We own the land, have foundations in and have planning permission for the build.

We are currently waiting on a few more quotations before we address the situation in more detail.

Has anyone used a bridging loan to commence build and complete then mortgage once all signed off by building control?

Can anyone give experience on time frames etc?

Many Thanks

ACG

Its an expensive way of doing it, self build mortgages are cheaper.

hollypop

I'd have a chat with a company called Ecology (depending on the type of self build you are doing)

They we're brilliant and really helpful with us when we went through this a couple of years ago now. (unfortunately for us & situations out of our control it all fell through in the end and the build didn't commence) but I'd still highly recommend the company to anyone looking at doing a self build.

Senior_Paper_Monitor

and don't forget to instruct the warranty now !!

amnblog

Be careful. You don't what to be applying for funding halfway through a self build project.


Find a competent broker and get some advice.

Grg727

Ecology have changed their cirteria lately and our house would not be classed as 'passive' so we can't apply with them now.

The foundations where put in a few years ago but it hasn't taken now to commence amnblog. We will be starting from the foundations up now so it will be for the complete build.

Grg727

Could anyone suggest a good mortgage broker for self build?

Thrugelmir

Have you looked at Build Store?

http://www.buildstore.co.uk/finance/selfbuildmortgages.html

Grg727

I have looked at build store but some reviews have commented on the long lead times and requests for strange information.

Senior_Paper_Monitor

Every self build project will be 'chapter and verse' including inside leg measurement and more.

None of them will be quick.