Mortgages

We recommend BuildStore Mortgage Services, the UK’s self and custom build mortgage experts. Their specialist mortgage advisers will recommend and tailor a borrowing solution to suit your financial circumstances, build and payment schedule.

Custom Build Mortgages

As your custom build home will be built and paid for in stages, rather than borrowing funds using a traditional mortgage, a custom build mortgage which releases funds in stages throughout the build rather than a single amount, is more suitable.

There are two types of custom build mortgage. They are defined by how funds are released during the build, where your stage payments are either subject to an increase in the value of works completed or guaranteed based on your costs.

A valuation based stage payment mortgage releases funds after each stage of works are complete, where a valuation has taken place showing an uplift in value. This borrowing option may not suit your build payment terms if you’ve chosen a timber frame construction.

BuildStore’s cost based stage payment mortgage provides guaranteed payments based on your build costs either before or after each build stage, depending on your build payment schedule.

BuildStore offer specialist knowledge and expertise, competitive interest rates, exclusive products and lenders, interest only during the build, guaranteed cost based stage payments and the ability to stay in your current home until your new one is complete.

Cost Based Stage Payments

Your build payment schedule can influence your choice of mortgage, and often dictate the need for guaranteed cost based stage payments. Especially if you’ve chosen a timber frame construction for your new home, as it’s likely that your supplier will need payment in full before the structure is delivered onsite.

The BuildStore cost based stage payment mortgage is ideally suited to timber frame builds, as your stage payments can be released before each build stage and are guaranteed based on your costs, so you’ll have the cash you need to meet your supplier’s payment terms.

For more information and expert advice on how to fund your self or custom build click here to enquire or call 0345 223 4888.

Your home may be repossessed if you do not keep up repayments on your mortgage. For self and custom build mortgages there may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee £395.

©2024 BuildStore Mortgage Services Ltd

BuildStore Mortgage Services Limited is an appointed representative of the following companies which are authorised and regulated by the Financial Conduct Authority for advising on and arranging the following: Mortgage Advice Bureau Limited for mortgages. Mortgage Advice Bureau (Derby) Limited for insurance.

BuildStore Mortgage Services Limited. Registered Office: 8 Houstoun Interchange Business Park, Livingston, EH54 5DW. Registered in Scotland Number: SC464573