The opportunity to custom build your own home is gaining momentum with Central and Local Government encouragement. Picking up on this ever growing trend, many mainstream mortgage lenders now offer custom build mortgages.
These differ from other mortgages in that they are tailor made to suit the custom build process.
In many cases, they allow for the borrower to draw down the money from the lender in stages, for example, to pay for the initial land purchase and then in stages to pay the building contractor.
Whilst we are not a mortgage broker, we do have links with brokers who are very knowledgeable about this market and can provide advice and guidance.