Self build mortgage applications are generally viewed in exactly the same way as any traditional mortgage, yet the reality is that there’s nothing more specialist than self build.

Every self build project is unique and self build mortgages are not all the same. Brokers are less likely to arrange this type of mortgage frequently and often don’t know the important questions to ask.

Getting it wrong can prove to be a time consuming, expensive experience for the client and the adviser. If the adviser doesn’t know the detail of the build, what materials are being us, what the cashflow requirements are and when payments are required, the project could be destined to run out of funds during the build because the mortgage recommended wasn’t the most suited to the client needs.

Different construction methods will dictate different cashflow requirements. The correct cashflow is crucial in ensuring that funds are available for the client at the right time throughout the build.

Sourcing lenders and products cannot be simply done through a sourcing system alone, there’s a need for more detail and insight – The best interest rate is useless if the client cannot complete their build.

BuildLoan are the UK’s leading specialist in construction based finance.  Dedicated to intermediaries, with mortgage products and features that you cannot get anywhere else, along with expert knowledge to help and guide you and you client through the entire process.

Benefit from:

• Dedicated Broker Consultants – Your helpful and friendly experts
• Exclusive bespoke products – from a panel of lenders
• Advanced stage payments – guaranteed funds before each stage of build commences or Traditional Arrears stage payments
• Higher lending percentages – up to 95% on land/property with outline planning and up to 95% on build costs
• No need to sell current home first – clients can stay in their existing home as they build their new one due to enhanced cash position offered
• More money earlier – particularly useful in the case of timber frame kits where client is required to pay for their kit early on

You are responsible for the advice that is given, make sure it’s right! The BuildLoan service provides the structure to mitigate risk for everyone involved to provide the best possible customer outcomes.

For more details follow the links:

• Stage Payments: https://www.buildloan.co.uk//stage-payments.html
• Accelerator makes it happen: https://www.buildloan.co.uk/blog/accelerator-makes-builds-happen/
• BuildLoan website:  https://www.buildloan.co.uk/

BuildLoan Roadshow events in June, free to attend:

• Tuesday 12^th June – Maidstone, Kent
• Wednesday 13^th June – Chelmsford, Essex