HOW MUCH CAN YOU BORROW?

  • Up to 75% of the completed property value (subject to criteria)
  • Minimum loan of £50,000
  • Maximum loan of £500,000

WHAT'S GREAT ABOUT THIS MORTGAGE?

  • Staged payments to help buy plot and complete construction
  • 0.05% discount on our standard variable rate for term
  • Make capital repayments up to 10% of the loan or £10,000 a year (whichever is the lower) without charge

SOME THINGS YOU NEED TO KNOW

  • £995 product fee
  • Early Repayment Charge if you repay in full within first three years, or if you repay over 10% of the loan (or £10,000) in each year

COULD BE IDEAL IF YOU…

  • Like the idea of building your perfect home
  • Converting or renovating a building
Current Rates
Type Initial Rate The overall cost for comparison is Discount off Standard Variable Rate Product fee
Self-Build Discount 5.30% 5.5% APR 0.05% £995

HOW MUCH CAN YOU BORROW?

  • Up to 75% of the completed property value
  • The initial loan must not exceed 75% of the plot's or property's current value or purchase price, or the total loan agreed, whichever is the lower

A FIRM FOUNDATION

  • Helps you buy the land
  • Stage releases for ongoing construction
  • Ongoing re-inspections throughout

Talk to our Mortgage Advisers on 0845 300 0522, or one of them can call you back.

HOW WILL THE MONEY BE RELEASED?

  • An initial amount to let you buy the plot of land/property
  • The remainder of the loan released in stages
  • Our valuer will carry out a re-inspection, before each stage
  • Suitable build warranty will be required
  • The build must be completed within two years or the interest rate will be increased by 1% until the completion certificate is provided

SELF-BUILD MORTGAGE CAN MOVE WITH YOU

  • If you move home, your Self-Build Mortgage can go with you - assuming you meet our criteria at that time

PAYMENT HOLIDAYS

  • You may need to skip a few payments. This is fine by us as long as you contact us on 0845 300 0522 to confirm you've already overpaid enough to cover the missing amounts. We'll ask you to fill in a form to set out exactly what you want to do and for how long.

MINIMUM ADVANCE

  • The standard minimum advance is £50,000.

OUR CHARGES

  • There is a product fee of £995, which will be added to your mortgage account when we make the initial release.
  • If you arrange your buildings insurance with someone else once your build is complete, we charge a fee of £25 when your final payment is released and each time you change insurer. If you arrange cover through the N&P group and later cancel, the £25 fee will also apply.

EARLY REPAYMENT

  • You can pay off your mortgage early whenever you want, but you'll have to pay an early repayment charge if you repay all of your mortgage within the first three years, or more than 10% of the loan or £10,000 (whichever is the lower figure) in each year.

You can download our Guide to mortgage fees and charges.

YOUR HOME MAY BE REPOSSESSED IF YOU DO
NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE