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.
Request a friendly, no obligation consultation…
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
A fee of £195 is payable on application. In addition, an arrangement fee of a maximum of £1,000, or 1% of the loan amount if greater, is payable on mortgage offer. Typically this will be £495, depending on your circumstances.