We’ve supporting intermediaries with self build cases for many years, with an expert support team and manual underwriters on hand to help.
Self build isn’t just for new projects, it also covers conversions, renovations and knock down and rebuilds too. Here you’ll find info on our products, criteria and helpful tools. Or, if you’ve got a case in mind, just give us a call on 0330 123 1073.
New product alert!
We have just launched an ERC-free deal for loans up to £400k at 80% LTV:
- 2-year discount rate at 3.99% (SVR – 1.55%)
- For both purchase and remortgage
- Application fee £199, completion fee £2,499
Self build in fifty seconds.
Andrew Sadler is here with the top headlines on self build lending, in under a minute.
- 80% LTV to £1m, 70% LTV to £2m+
- We lend against land value.
- Flexible stage releases.
- only available during build.
Discount product range.
- Loans to £400k, 80% LTV: 2-year at 3.99% (SVR minus 1.55%) no ERC
- Loans to £1m, 80% LTV: 2-year at 3.79% (SVR minus 1.75%)
- Large loan £1m – £2m, 70% LTV: 2-year at 4.19% (SVR minus 1.35%)
Case study: James and David, renovation of a character property.
James and David had bought a beautiful property for £450,000. It had many original features but had not been well maintained. The windows, roof, kitchen and bathroom all needed replacing and they wanted to add an extension. The work would take at least 6 months and make the property uninhabitable for a time.
The solution.
James and David’s broker came to us – on a self build remortgage we can accept an application as soon as the clients show as owners on the Land Registry. With building reg approval and everything else in place here’s how it worked:
- Borrowed £300,000 to repay the existing lender and £180,000 to do the work.
- Took the money in stages as the build progressed and the value increased.
- We lent up to 80% at each stage
- On build completion they switched to a retention product without penalty.
The end result.
A happy broker able to place a case, and happy borrowers living in a very smart house now worth nearly £680,000.
Get in touch.
Whilst we can’t list everything we accept, or the conditions which apply, we’re on hand to help! If you want to find out more, or have a case in mind, give us a call on 0330 123 1073 (option 1).
Useful links.
