A guide to self build mortgages
Posted: Friday, November 24th, 2023
Mark Millar host of Building Ideas, was recently joined by Tom McSherry from Buildstore to give advice and information on how to approach getting a mortgage that suits your ambitions with your self build project. McSherry said: “The major difference between self build mortgage and a standard house mortgage is that money arrives or is released in stages as opposed to receiving a lump sum. There are several products such as self-build, custom build, renovations when you are extending your house... so the flexibility of the product is quite different in terms of how it’s tailored. “Some of the challenges to securing mortgage for self build projects are the same as when you are buying a property that’s already built. I suppose what does change is the level of detail required to ensure that the project runs well and making sure that the cost is accurate, and of course planning permission is very important.” For the full show, listen below and enjoy!
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