Self Build Mortgages - Devon

Your home may be repossessed if you do not keep up repayments on your mortgage

Self Build Mortgages - Devon

Self build mortgages are a great way to not only get yourself on the property ladder but to build your dream home exactly the way you want it (within reasons)

There are lenders in the market that still looking to support Self Build mortgages although they are diminishing number due to the credit crunch. The criteria has remained similar though out the period and typically looks like this:

Generic Self Build Criteria

• Lending Up to 75% of the land value +

• Lending you to 75% of the build cost

• Maximum overall Lending = 75% of end Value

• Typically the property must be a Detached Residence

• Site should be a fresh site (not started)

• Planning Permissions/Consents with 12 months remaining

• Full Breakdown on Build costs & Materials

Typical Stages of Self Build Funds Release

For a full breakdown on the Build Cost that will be required from the lender you can download an excel spreadsheet here Build Cost & Materials for Self Build

Each and every lender has slightly different criteria and this is a BROAD guideline. Full lending terms will be provided on your individual circumstances.

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As an Independent & Whole of Market Mortgage Broker, I reserve the right to charge a fee for my services of up to £350 and I am also paid commission by the lender, alternatively you could receive the commission from the lender and pay me a fee of an estimated £995

Trevor Branton is a Registered Individual of Clearwater Financial Limited, who is a an Appointed Representative of Intrinsic Independent Ltd, which is authorised and regulated by the Financial Services Authority.

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