Self build mortgages

Fidoug79

Can I get some advice on self build mortgages? We have got planning permission, building warrant and have decrofted the site, we have approx £80000 deposit, and reckon the cost of build should be £200000. We should be looking to apply for mortgage in November time this year with a view to build start in February next year. Currently we use overdrafts and have £3000 credit card debt, would that be a stumbling block in getting a mortgage? We have no missed payments. 

Caz3121

you would be best posting on the mortgages board here https://forums.moneysavingexpert.com/categories/mortgages-endowments
An idea about stage payments etc can be found here https://www.buildloan.co.uk/home-builders.php

whiterosethistle

I would recommend seeking some advice from an independent mortgage broker. Mortgages are affordability based so as long as your income is sufficient to meet your credit card payments and you don’t rely on overdrafts and credit cards to meet your commitments then you should be ok.