Building the home of your dreams

As our name suggests, this is a type of mortgage we love.

The self-build process involves a few stages from acquiring a site, obtaining planning permission for your house type to engaging with Builders & Engineers

Building your own home from scratch may take considerably longer and be more stressful, but would you expect it any other way when your building the home of your dreams.

Think about dealing with architects, builders, planning permissions, surveyors and councils. Self Builds are not for everyone, but at least you can rely on The Mortgage Architect to be with you every step of the way when it comes to financing the process.

The Self Build Mortgage

Generally, mortgage lenders will advance up to 70% of the cost of buying the site and 100% of the building cost. However, the above does vary depending on the lender. That is why we would recommend you to engage with The Mortgage Architect.

Your Site can be your deposit – if site is gifted or already owned, you may borrow up to 100% of the Build Costs.

Approval-in-Principle - Approval in principle can be granted without full planning permission and costings. It would be primarily based on incomes.

Letter of offer – This will require us to have all the self-build documents. These would include final Grant of Planning Permission, Full Costings or Fixed Price Contract and details of Supervising Engineer.

Mortgage drawdown in Stages: Due to the nature of self-build’s, your mortgage funds are paid out in stages as the project progresses. In most cases the payments would be split between 5 & 6 stages.

Self-Build Options - Direct Labour vs Contract

The choice is entirely yours, but you might want to consider certain factors first.

Direct Labour

With direct labour, you are fully in charge which can be both good and bad depending on your experience. Under the supervision of your appointed architect, you will manage contracts with workers throughout the various elements of the build from foundations to finishing touches. Do you know how to arrange for your drainage and sewage, plastering, roofing, etc.? If this sounds like a daunting task, you might prefer to employ a professional builder to carry out the build for you. Managing a self-build is not an easy undertaking and may require a lot of time and dedication on your part.

Contract

If you found the direct labour option above too hard, then a building contract might be for you. A professional construction company will take over the building project under the supervision of your architect. Furthermore, your architect might recommend a builder. You can go a step further and hire a project manager. This will ensure a smooth process and even pay for itself in the long run.

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