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Q&As
Standard mortgage with high street lender
We are retired and hoping to self build on our garden plot. Although this is to be our permanent home for retirement, we are aware that if one of us were to die within a couple of years of building, the other would probably need to sell and downsize. What construction method do we need to use if we want to be able to sell the house a couple of years later to someone who could easily get a mortgage from a high street lender? I wouldn’t want the property to be limited to a self build mortgage lender only, because of limiting the market. Many thanks Nin
Answers
Hi Nin,
In theory any structural system that can get approval from building control should be acceptable to a mortgage lender – but it’s fair to say there’s a lot of variation on the high street. Some self builders do prefer to stick with the most conventional options (eg brick-and-block or timber frame with a non-timber cladding) for the reasons you’ve cited.
The most important thing you should do, however, is to ensure that you take out an adequate 10-year structural warranty (which needs to be arranged prior to work starting, so the scheme can be inspected at key points in the construction phase). Alongside your completition certificate etc, the warranty is the thing that tells a lender your property has been built to the required standards. You can find a number of providers at https://www.self-build.co.uk/professional-services
Chris
