This can be an attractive option for all sorts of reasons, not least the desire to bring your personal grand design to life. At the Beverley, we have lots of experience of self-build mortgages for people constructing from scratch or embarking on schemes like barn conversions and other types of existing property redesign.
We also take a flexible approach to releasing funds at each stage of a project, making sure you receive your money when you need it to avoid costly delays. You can even pay back just the interest during your build to keep your outlay per month low. Upon release of all of your funds, we will offer you a reduced interest rate so that you get the full benefit of a two or three-year discounted period.
You are looking to build your own home
You already own the land on which you are going to build
You want flexible access to your loan
You are looking to convert / refurbish an existing property
For a Decision in Principle, or Lending Certificate, confirming how much we would be prepared to lend to you
Below is a summary of the interest rates that apply to our mortgages. Speak to a member of our friendly team for a personalised mortgage quote
|Maximum loan to value (Variable)||Arrangement Fee||Rate||Reverting to|
|75%||1% of total loan||4.25% |
(Follows SVR with discount of 0.74%)
|Upon release of final stage you can switch to a fixed or discounted rate|
Mortgage released in four 25% stages. Interest-only option available.
Our caring team will go out of their way to get to know your circumstances, and wherever possible say ‘yes’