Mortgage Self Build

With the Accelerator Self Build Mortgage, the borrowing percentages are generous at 95%. You can borrow up to 95% of the cost of your building plot or renovation, so, even with a relatively small deposit, you can make sure that your project gets off the ground.

You can also borrow up to 95% of the cost of each stage of your build and this is not subject to any interim valuations. In case you are not sure how to go about the task, there are Self Build Advisory services to guide you.

One in ten of the new homes built every year in the UK is ‘self build’, i.e. an individually commissioned house, either built by the owners themselves, by a builder, or by a combination of both.

With a fixed rate mortgage self build, you are guaranteed to pay a certain level of monthly payments for an agreed period. A capped mortgage is a combination of fixed and variable mortgage. There is a maximum rate over which you will not be charged for a certain period.

If the SVR falls below the cap, your payable rate follows it down. On the other hand, the variable rate mortgage means the interest rate may change. In general, the standard variable rate (SVR) charged by the mortgage lender will mirror the Bank of England Base rate, so you should monitor that rate to suggest what your mortgage rate may be.
Insurance is very important during the self build project. You will have to protect you property against damage and theft, but more importantly you will have to protect your workers and the public against personal injury.