Finance For Building Projects.

Build mortgages differ from standard residential borrowing as payments are released in stages so initial land purchases can be made, and as the project is developed, more money is received. This is therefore more complex as timing and size of payments can differ between products. Getting the wrong mortgage may cause you delays in building and higher costs. We can also obtain Bridging Finance when traditional finance is not available.

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Difficulties of attaining finance for your building project.

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Projects often require a more bespoke service than the high street can provide. Smaller building societies often have the skills and flexibility to bring projects to life and manage them throughout the build. 

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Our expertise in this area allows projects that do not meet the standard criteria with some lenders to be considered in a more innovative way. For example, staged payments can be arranged at the best time to manage the project and to minimise interest costs. 

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The advantages of this type of mortgage.

 

There are number of advantages available for using this category of mortgage. The main one being the reduced cost of stamp duty paid. This is because there are no stamp duties paid for the cost of the building work or value of the property once work has finished. Overall, the only stamp duty that needs to be paid is on the land itself, therefore, this represents a key financial advantage over traditional mortgages.  

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Why get specialist advice?

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Not only will we help you attain finance so you can build your dream home, whether it be starting from scratch or part complete projects in which funding has been exhausted, our experienced team will guide you through the process and make sure you receive a mortgage that is tailored to your specific requirements. We choose products from a carefully selected panel of lenders to ensure your particular conditions are met, as well as receiving a low rate.

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Once your project is complete we will help you get a standard mortgage product.

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Unusual construction.

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When trying to get a mortgage for non standard construction, it can prove to be problematic. This is because lenders often restrict:

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• The nature of property 

• Build type

• Location, for example sometimes being near a factory, river or pylon may spell problems for your purchase

 

Every Lender has different approaches to the degree of risk involved in these types of properties hence you may only be able to get mortgages from a very select number of lenders.

 

How can we help?​

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Our team has a huge amount of experience in placing these sort of complicated and difficult mortgages so let us look for you. We have a vast amount of market knowledge into the flexibility of lenders on these properties demonstrated by our high completion rates. Don’t waste your time tirelessly searching when you can get a specialist to find you an appropriate mortgage hassle free.

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