Self-Build Mortgages | Build Your Own Home
Building your own home has become more and more popular in recent years - just look how often it can be seen on TV. There are several reasons people opt to build their own house:
- You create you own home, entirely designed and built around your needs and desires
- Your dream home is in a location of your choosing
- The cost of building a home is normally less than purchasing an existing dwelling, often by approximately a third
- No profit for property developers factored into the cost!
- Once the home-build project is complete, VAT can be reclaimed on goods and materials bought from a VAT registered supplier
As you might expect, applying for a self-build mortgage is quite a bit more complicated than a standard residential mortgage; plans have to be assessed, permissions checked, regular site visits made amongst other things.