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back to mortgages

Self Build Mortgages

​Building your own home. Finance is generally the biggest challenge that self builders face - with roughly two out of three self builders needing a mortgage to see their project through. While many lenders claim to offer self build finance, closer inspection of their products illustrates their lack of knowledge of self build issues. With a finished property, the lender knows exactly what they are getting. With self build, there is an element of uncertainty, which causes many mortgage lenders to act cautiously and restrict the nature of borrowing.

The main difference between a self build mortgage and a house purchase mortgage is that self build funding is released in stages as the build progresses, rather than as a single amount. The table below illustrates the typical stages for a brick and block build, a timber frame and a renovation or conversion project.
​Stage
Brick & Block
Timber Frame
Renovation/Conversion
1
​Purchase of Land
​Purchase of Land
Purchase of Property
2
​Preliminary Costs & Foundations
​Preliminary Costs & Foundations
Preliminary Costs & Structural Overhaul
3
​Wall Plate Level
​Timber Frame Kit Erected
Wind & Watertight
4
Wind & Watertight
Wind & Watertight
​ Plastering & Services
5
First Fix & Plumbing
First Fix & Plumbing
Second Fix
6
Second Fix to Completion
Second Fix to Completion
To Completion
Lloyd Vine has sourced two unique mortgage packages which are designed to suit the specific needs of the self builder. They are defined by when funds are released to customers during the build process (in arrears or in advance) and are tailored to suit our client's income and the stages of their project.

Traditional Mortgage

The Traditional mortgage works on a typical arrears stage payment basis. But what you'll find with our selfbuild mortgage, is that we can arrange up to 85% on both land and build costs - around 10% higher than most other facilities. These higher percentages mean you will have more money, enhanced cashflow and greater flexibility.

Accelerator Mortgage

The Accelerator mortgage works on an advance stage payment basis. Recognising that not everyone has the money required to get to the first build stage - or is able to release equity from their existing property to buy or put down a deposit on land, the Accelerator mortgage releases the funds at the beginning of each stage rather than the end. With Accelerator, it's possible to borrow up to 85% of the cost of land or a renovation property and up to 85% of the cost of the building works.

To discuss your self build, renovation or home improvement client requirements with Adrien or to arrange a decision in principle call 023 80601601. Or use any of our contacts.
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Lloyd Vine Limited. Independent Financial Advisers & Mortgage Brokers. Authorised and regulated by the Financial Conduct Authority. 832055.
Copyright All Rights Reserved © 2019 Lloyd Vine Limited. Company Number: 11783591


Normal Hours

Mon - Fri : 9am - 5pm

Telephone

023 80601601

Email

info@lloydvine.co.uk

About Us


  • Home
  • Insurance
    • Business Protection >
      • Key Person Insurance
      • Shareholder Protection
    • Employee Benefits >
      • Group Income Protection
      • Group Life
      • Group Private Medical
      • Relevant Life Cover
    • Personal Protection >
      • Critical Illness Cover
      • Income Protection
      • Life Assurance
  • Investment
    • Pension & Retirement >
      • Auto Enrolment
      • Company Pensions
      • Flexi-Drawdown Pension
      • Group Personal Pension
      • Pension Annuity
      • Personal Pension
      • Self-Invested Personal Pension
    • Savings & Investments >
      • Investment Bonds
      • Investing For Children
      • ISA (individual Savings Account)
      • Lifetime ISA
  • Mortgages
    • Your Home Mortgage >
      • Introduction
      • Property Surveys
      • Mortgage Consultation
    • Buy To Let >
      • Buy to Let Types
      • Portfolio Landlords
    • Commercial Mortgages >
      • Commercial Mortgages
      • Limited Company Buy to Let
    • Holiday Home Finance
    • Let to Buy
    • Second Home
    • Self Build
    • Mortgage Calculator
  • Contact Us
  • News
  • Documents