Self build mortgages are becoming ever more popular . Building your own project can be the only way to getting the dream house that you want, and with the open use of computer software many dreams are being realised. If you are planning a self build project CMS has all the products and services you need. Getting your materials trades and services at the right price will be the key to your successs as it is for the big building companies.Self build mortgages are a way to finace your build and are paid in stages. You will need to shop around to find the right deal for you. Not all self build mortgages are the same so you will need to talk to a qualified financial adviser to advise you on what mortgage is best for you. This is essential as your cirumstances may differ from another self build project.
Tipper Hire | Skip Hire | Plant Hire | Tool Hire |
If you are thinking of building your own property and more and more people are, you may need a self build mortgage.
Self build mortgages are usually a six stage payment strategy for lenders, although they do vary from lender to lender
Here is a brief description of what a self build mortgage comprises of.
How do self build mortgages work?
The first payment will usually be for the land or plot, this can be from 50% to 85% of the value of the land ( the value is based on what the lender thinks the land is worth).
Many self builders have quite a lot of savings before they start the build usually from a sale of their previous property.
Most lenders release the finance payment at the end of the stage not the beginning.
Before considering any type of mortgage you should sspeak to a financial adviser.
See here for mortgage services and other finacial offers.
| Traditional Brick Built | Timber Framed |
| 1.Purchase of land | 1.Purchase of land |
| 2.Preliminary costs & foundations | 2.Preliminary costs & foundations |
| 3.Wall plate level | 3.Timber frame kit erected |
| 4.Wind & watertight | 4.Wind & watertight |
| 5.First fix & plastering | 5.First fix & plastering |
| 6.Second fix to completion | 6.Second fix to completion |
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