Self-build mortgage
Overview
If you’re looking to build your own home, it can sometimes be difficult to find someone to lend you the money, but we’re very comfortable with the idea. This mortgage helps you buy the land and pay for the construction as your home takes shape.
Flexible finance
You can borrow up to 85% of the value or purchase price of the land on which the home will be built (whichever is the lower), and further cash to finance your project as your home moves towards completion.
Minimum advance
The standard minimum advance is £20,000 (unless stated otherwise).
Maximum advance
The standard maximum advance is £2,000,000 (unless stated otherwise).
Wide range of repayment methods
You may be able to take advantage of one of the Society’s special mortgage schemes that are available from time to time.
Practical lending criteria
Even if you own another property, we may still be able to help you finance your self-build project
Regular finance with stage payments
We are able to lend you money to help buy your plot of land, then to help finance the construction itself with regular stage releases during the build.
Your Self-build mortgage can move with you
All our mortgages are portable. This means that if you move home, you can have a mortgage on your new home on the same terms, providing that your new home is a satisfactory security for the loan, is situated in either England or Wales and that your financial position meets our criteria at the time.