Self-Build Mortgages: Are you ready to meet customer demand?

Jean Errington, Business Development Manager, Harpenden Building Society

A self-build property can feel unobtainable to some due to TV’s Grand Designs and other shows featuring multi-million pound projects located by the sea or other aspirational locations. A self-build doesn’t have to be this stereotype. More modest self-build projects are becoming increasingly popular creating wider opportunities for mortgage brokers.

A self-build development can be a renovation of an existing property not just a new-build, a conversion of a barn or basement, loft or garage. In essence, any large extension could be classified as a self-build construction. The popularity of more accessible ideas is creating further demand for self-build mortgages.

Self-build opportunities

A self-build project provides the perfect opportunity to create a bespoke property allowing customers to acquire exactly what they need for modern living. With home working, muti-generational living, the need to accommodate blended families amongst a host of other reasons and the option to create a personalised self-build home has never been more relevant.

Estate agency Savills, having studied the self-build sector, says between 7 per cent and 10 per cent of the homes constructed in the UK each year are self-build — that's about 13,000 annually and the government have legislated to bring that up to 30,000 in the coming years

How Harpenden BS can help ?

Harpenden has years of experience providing specialist finance for people looking to build their own homes. We support customers throughout the financing process providing mortgages which release funds at a number of stages as the build progresses.

Individually underwritten mortgages are tailor-made to meet customer needs. Our pragmatic and sensible approach ensures applications are individually assessed using common-sense. The exclusive self-build options we offer are only available through Mayflower, coupled with our expertise and experience in dealing with complex mortgage applications, makes it a strong option.

We pride ourselves on being flexible and accommodating. This is conveyed through our policy of lending to people in different types of employment which has kept pace in an ever-changing environment. We therefore lend to people who are employed, self-employed and retired.

Find out more

If you need funding for a self-build project within England and Wales, then Mayflower Mortgage will be happy to help and discuss our product range.