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Self Build |
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Self Build Mortgages Are For: Building your home on a plot of land Converting a non residential building such as a barn or church into a residential home Modernising a run down home.
Before You Can Apply: You need outline planning permission
How They Work: With a self build mortgage the money is released in stages as the build progresses rather than as a single amount.
Traditional Method: You are able to borrow up to 75% of the purchase price or value, whichever is lowest. Further money is released in stages up to 75% of the cost as the project progresses. This is paid on an arrears basis ie after the work and cost has occurred.
New Advance Stage: Up to 95% of the purchase price or value can be lent straight away. You can stay in your current house while the build progresses. Further money is released in stages but this time the money is available before the work starts. No more cash flow problems. |
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Self Build Contact Request Form |
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