It is estimated that some 20,000 self build homes are started each year, not all of which are by those with building experience. Indeed, as many as 1 in 3 owners of self build homes may not even have lifted so much as a bucket!

This is because not all self-builds are, in fact, do-it-yourself builds. Indeed, some lenders may be extremely wary if you plan to self-build with no actual experience. Whilst you may be inexperienced in terms of building expertise , what you can bring to the project is your management skills. And money, of course.

So what is the main attraction to self-build? Potential profit. It is not unknown for the finished property to be worth 20% to 30% more than it has cost you in terms of plot price and build. VAT is reclaimable on material costs and some contractors bills may also be VAT refundable. Suffice to say, that such a project is not for the faint hearted, and you will have to do your research and planning (including detailed budgeting) thoroughly for us to approach a mortgage lender for a mortgage.

To guide you, there are two types of self-build mortgage available. These are Stage Payment Mortgages, whereby you can draw down the pre-agreed amount after completion of each of the build stages and Accelerator Mortgages that, whilst also stage payments, provide you with funds in advance of the build stage commencement. Not unnaturally, Accelerator mortgages are the most popular.

You can take the opportunity right now whilst you are online, to request a mortgage adviser to contact you at your convenience regarding which self build mortgages you could apply for right now. Just click on the Advice link below.

For advice as to which self build mortgage options are the right choice for you, please click this link.