If it were possible, many of us would love the opportunity to acquire a piece of land, design a house and then either build it ourselves or have it built to our own specification.
Once planning is agreed, the major obstacle to overcome then is raising the finance.
Without trying to teach anyone to suck eggs, it is essential that the project is fully and thoroughly costed, and that if the work is being contracted out serious consideration is given to a fixed price contract. Cost overruns are one of the biggest issues that plague a self build
There are plenty of lenders in the market who will provide funding for self builds, from main high street lenders to those who specialise in that area of the construction industry. Each will have their own criteria which may be slightly different from others, but the majority will lend at certain stages, which are generally the completion of the footings and foundations, construction of the walls, Roof and lastly completion. Most will lend against the value of the land, generally at 50% of the value, which will enable the footings and foundations to be put in. This will in turn release funds to enable the next stage to be undertaken.
Sourcing the correct lender can be an onerous task, so let us make the phone calls and negotiate the deal for you.
Call us or complete the CONTACT form below and we will get straight back to you to discuss the funding for your project.