Self Build Finance

Self Build Finance has been transformed over the past few years, with increased flexibility enabling more people to build their own homes. In the early days of self build couples usually had to sell their existing house to release the necessary funds before embarking on a project. They would then have to pay for furniture storage and rental accommodation costs, move their family into a caravan on site or lodge with relatives during the build.
Thankfully, these stressful options are now not the only way to pursue a self build project. Today’s self builders have a choice of different packages, all offered by major High Street lenders and tailored to meet your own personal requirements. Crucially, one major change has opened up self build, the introduction of BuildStore’s revolutionary Accelerator mortgage.
Prior to Accelerator, self build mortgages, which are released in stages as the build progresses, were paid in arrears upon completion of a build level.

BuildStore’s Accelerator releases the money to you in advance of the stage – enabling you to pay your sub-contractors on time thus minimising delays and providing greater security. Unlike traditional self build mortgages which require borrowers to come up with a substantial deposit Accelerator can provide up to 95% of both the build and the land cost. With this greater cash flow flexibility self builders often find it is both more convenient and financially astute to stay in their own homes throughout the build.

Buildstore have also developed a flexible and competitive product called Advance for those self builders who require short term building finance to fund the building of their new home but who will not require long term borrowing on it.

ACCELERATOR FEATURES

  • Up to 95% of the land purchase
  • Up to 95% of the build costs
  • Stage payments in advance
  • Stay in your own home during build
  • No interim valuations
  • No Bridging loans needed
  • Choice of lender
  • Choice of Competitive Rates including flexible mortgage

How to apply

BuildStore's on-line application gives all the details we need to make an agreement in principle. This tells you from the information you provide, whether or not the Lender would be prepared to lend.