Whether you’re looking to build a dream home for you and your family from scratch, work on converting a property or if you plan to build a new property to sell on once completed – understanding the type of finance you’ll need is vital.

Self-build mortgages work a little differently to a traditional residential mortgage. For a self-build mortgage, the loan is released in stages as the build progresses rather than in one large payment. Most lenders will lend a maximum of 75-80% of the total land and build costs subject to an affordability assessment.

Self-build interest rates are higher than an average residential mortgage as they are more specialist and lenders class them as higher risk products. Some lenders will allow you to transfer on to a normal residential rate once the build has completed which can save you a lot in monthly interest payments if your project is completed relatively quickly.

Benefiting from the experience of many self build projects through the years, we can offer you the right advice to bring the financial side of your project together. Contact us to discuss the options and process, we can provide advice and assistance to help you make your self build dream a reality.