Self Build Mortgages: Latest Rates

Self-build mortgage table: Find the right mortgage funding for your self-build project with our guide to the best deals from leading lenders
by Build It
1st November 2018

Applying for any type of mortgage has become a complicated process, with new affordability rules to understand as well as a variety of changeable criteria to keep up with.

With a self-build or renovation project this can be even more challenging, as there is so much more to consider when arranging your mortgage finance.

For instance, where do you intend to live while your house is being built? And how will the cost of these arrangements (i.e. mortgage or rental payments) affect the amount you’re able to borrow to construct your new property?

Most lenders now take these factors into account when assessing your project profile, and therefore what level of funding you can afford to service.

This will be the case even if the costs are only short-term. So it makes sense to find out early on exactly what your borrowing options are, as different lenders will apply different rules.

Accessing suitable self build mortgages

Thankfully, the lenders who operate via BuildStore offer tailor-made self-build and renovation mortgages that account for the extra flexibility required for this type of project.

The following tables are a guide to the various mortgage products currently available for self-builders. The information is verified monthly by BuildStore and was last updated on 1st November 2018.

Note some abbreviations used in these tables:

  • BS – building society
  • DPP – detailed planning permission
  • LTV – loan to value

Table 1: Advanced Stage Payment Mortgages (BuildStore exclusive)

Created by BuildStore, these products pay out prior to the start of each phase of works, offering cashflow benefits for those requiring guaranteed capital.

LenderMortgage TypeLTV LandLTV End ValueInterest Rate1st Stage Payment
Bath BSSelf & Custom95%80%4.69%DPP & Building Regs
BuckinghamshireSelf80%80%4.99%DPP & Building Regs
Darlington BSSelf & Custom80%80%5.09%DPP & Building Regs
Furness BSSelf & Custom80%80%5.20%DPP & Building Regs
Hanley Economic BSSelf & Custom85%60%5.04%DPP & Building Regs
Mansfield BSSelf & Custom85%80%5.60%DPP & Building Regs
VernonSelf & Custom85%80%5.50%DPP & Building Regs

Table 2: Arrears Stage Payment Mortgages (BuildStore exclusive)

Arrears stage payment mortgages pay out in stages after completion of each pre-agreed phase of the works. They are therefore best suited to those with significant capital at their disposal (e.g. savings or cash from the sale of your current home).

LenderMortgage TypeLTV LandLTV End ValueInterest Rate1st Stage Payment
Buckinghamshire BSSelf85%85%4.84%Foundations
Chorley BSSelf & Custom85%80%4.39%Foundations
Darlington BSSelf & Custom80%80%4.99%Foundations
Dudley BSSelf50%75%5.49%Foundations
Furness BSSelf & Custom80%80%4.74%Foundations
Hanley Economic BSSelf & Custom85%80%4.74%Foundations
Ipswich BSSelf & Custom80%80%3.99%Foundations
Loughborough BSSelf & Custom80%80%4.39%Foundations
Mansfield BSSelf & Custom80%80%5.15%Foundations
Newcastle BSSelf & Custom80%80%4.99%Foundations
Nottingham BSSelf80%80%4.64%Foundations
Stafford Railway BSSelf85%75%4.50%Foundations
Tipton & Coseley BSSelf & Custom85%75%4.49%Foundations
VernonSelf & Custom85%80%4.74%Foundations
Virgin MoneyCustom85%80%5.29%Foundations
West Bromwich BSSelf & Custom85%75%4.29%Foundations

Table 3: Arrears Stage Payment Mortgages (Non BuildStore Exclusives)

LenderMortgage TypeLTV LandLTV End ValueInterest Rate1st Stage Payment
Beverley BSSelfn/a75%4.99%Wall Plate
Cumberland BSSelf75%85%CallFlexible
Earl Shilton BSSelf50%75%4.99%Flexible
Ecology BSSelf80%80%4.65%Flexible
Hinkley & Rugby BSSelfn/a80%6.14%Footings
Melton Mowbray BSSelf75%75%4.09%Foundations
Newbury BSSelf66%75%4.45%Foundations
Penrith BSSelf75%75%4.99%Foundations
Saffron BSSelf & Custom65%75%4.20%Flexible
Scottish BSSelf60%80%5.89%Foundations

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