Self Build Mortgages

The main difference between a self build mortgage and a house purchase mortgage is that with a self build mortgage money is released in stages as the build progresses rather than as a single amount. Some lenders will lend you money to purchase land, typically 75% of the purchase price or value, whichever is lowest.

There are two methods by which the money can be released during the build – at the end of each stage or at the start of each stage. ( Known as arrears stage payments and advance stage payments respectively).In the arrears stage payment method, the money for that stage is released after the stage has been completed and a Surveyor has visited the site and confirmed completion of the stage.

Hoskin Mortgages

Hoskin Financial Planning