Self build & renovation mortgages.

We can now accept an application within 6 months of land purchase, as long as your client shows as the landowner on the Land Registry prior to application.

We do not have any set criteria on when stage payments can be requested. We do need to have a good idea at application of the expected stages and amounts required, but we know that most projects do not run to plan! By employing a flexible approach we are able to consider releasing stage payments as and when they are most required. We have a minimum requirement of 2 stage payments, but no maximum. We can only release 1 stage payment per calendar month.

Typically, funds are required at certain benchmarks of the build such as completion of foundations, the building up to eaves level, when watertight and windows installed, fixtures and plastering.

We will lend on the value of the land, whether already owned or being purchased. If a knock down and rebuild, we would lend on the value of the land and need that to repay any existing borrowing so we always have first charge.

We can assess applications with outline planning permission, but will only be able to proceed with the case when full planning permission or Class Q is granted.

No, we are unable to accept custom self build applications.

We consider schemes utilising Modern Methods of Construction (MMC) where these are BOPAS-approved. We may also consider other unusual constructions and suggest you give us your clients plans and drawings at an early stage.

We can consider shared access cases if:

• Relevant rights of access are in place at application
• The conveyancer confirms to us relevant rights of access are set out in within the title deeds
• At the point of completion the customer’s insurance policy must include legal cover and public liability cover, title insurance will need to be in place in the event of any boundary disputes and private road insurance must also be in place.

Full information can be found in our lending criteria.

We can consider applications where the land or plot has been gifted to the applicant by a family member. The name of applicant must show as the landowner on the Land Registry.

We will not lend where the land or plot has been gifted by a non-family member.

Yes. We need the title split prior to, or on, completion.

Our valuer will need to know exactly what the new title will look like when they are valuing the property.

We can assess applications with outline planning permission, but will only be able to proceed with the case when full planning permission or Class Q is granted.

We will need to include any ongoing rent and/or mortgage payments in our affordability assessment.

No as the builder will have their own such cover in place.

We need cover to be arranged for the expected open market value as advised by our Valuer. When our security is completed, and a standard home insurance policy arranged, cover needs to be for the re-instatement value.