What is a self-build mortgage?
Self-build mortgages are very similar to conventional mortgages – with lenders usually willing to provide up to five times a single income or up to 60 per cent of your monthly income. Traditional self-build mortgages, also suitable for renovation or conversion projects, release stage payments in arrears, which can cause cash flow-problems. However, there are products available that release funds in advance over six stages of the project, which makes it easier to stay in your current house as the build progresses.
