Self-build Mortgages

Buying a New Build

Purchasing a new build house offers a fresh start in a home you can personalise from day one. However, it's essential to carry out thorough research. Start by looking into previous developments from your chosen developer, visit sites & speak to local residents about their experiences. This will help ensure you select a developer who adheres to high quality standards, such as those set out in the Consumer Code for House Builders & the New Homes Quality Code.

When you find your ideal plot or property, carefully review your contract. Ensure both short-stop & long-stop completion dates are specified, so your mortgage offer (usually valid for six months) remains secure. Before accepting your new build, visit to make sure all work & fittings meet your expectations. Beginning your snagging list early can help resolve any post-completion issues quickly. Remember, our reliable advisors at Mortgage & More are here to help you every step of the way.

What is a Self-Build Mortgage?

If you dream of designing & building your own home, a self-build mortgage could be the best way forward. Unlike a standard mortgage, self-build mortgages release funds in agreed stages as the build progresses. This staged approach safeguards you & the lender, ensuring resources are used as planned for each phase, from purchasing the land to finishing the roof.

Self-build mortgages are a practical choice for buyers hoping to access the property ladder more affordably, as well as for those crafting something truly unique. Naturally, payments & schedules differ from conventional mortgages, making professional self build mortgage advice invaluable in understanding what's right for you. At Mortgage & More, we offer detailed step-by-step guides to make every stage clear & manageable.

Types of Self-Build Mortgages

When you approach a mortgage for building your own home, you'll generally encounter two main self-build mortgage types, each suited to different circumstances:

Arrears Stage Payments

Payments are made after each construction milestone is completed. This is ideal for those with sufficient savings to cover the initial costs before funds are reimbursed.

Advance Stage Payments

Payments are made at the start of each build stage, helping you cover bills for materials & labour as they come in. While this helps ease cash flow, fewer lenders currently offer this type.

Both options include staged payments for key build points like land purchase, laying foundations, reaching the roof stage, & completion. Interest rates on self-build mortgages are typically higher than regular mortgages, reflecting the unique nature of these projects. Whether you're planning a solo self build or embarking on a group or custom-build scheme, we'll guide you to the right mortgage products for every situation.