Self Build Options

Many banks and building societies offer mortgages to self-builders. They are usually willing lend you between 25% and 80% of the land's value in addition to between 65% and 95% of the building costs.
Any money for construction is paid in arrears usually, once key stages of the building work are completed. However, you need to plan carefully the costs that you may incur in building the house.

You won't get the mortgage unless you've done this anyway, but your installments might not be sufficient if you have underestimated your costs or suddenly need to buy new materials. An increasing number of self build mortgage lenders will allow you to remain in your current home, rather than selling up to fund the build. A capital raising charge is taken out on your current home in conjunction with a self build mortgage.

You can go through a list of the most popular build self sites to make your choice. When going for build self, one should keep in mind that the actual building programme itself can at times be a challenge.

It may happen something goes wrong. The self builder should recognise problems will occur, accidents can happen and things may not go according to plan. Careful research and planning and seeking sound professional advice can help you overcome such hurdles.

Don't try and do anything that you are not absolutely sure you can do. There is too much money at stake. You should call in a surveyor, a planning consultant and an architect. You should also get a solicitor to draw up contracts between yourself and your builders.