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Self-Build

Of those lenders that offer Self Build Mortgages in Northern Ireland the maximum Loan To value tends to be 75%. The biggest difference between a self-build mortgage and standard residential mortgage is that the funds are given to you in stages rather than as a single lump sum. This is to reduce the lender's risk and ensure that the money is spent as planned so you don't run out when you are only half way through the self-build project

Example of stage payments:

  • Stage 1: Foundation
  • Stage 2: First floor brickwork and wall plate
  • Stage 3: Roofed in and tiled
  • Stage 4: Plastered out
  • Stage 5: Completion

For an application the lender will require in addition to standard documentation the following documentation:

  1. Site map copy;
  2. Copy of Planning Permission/Building Control;
  3. Final drawings/plans;  
  4. Professional Indemnity Insurance, if a Professional Consultant is inspecting during construction of the build

 

Other key points to note:

-The deeds of the site must be registered in the same names as the mortgage applicant(s).
- if there are restrictive covenants on Title the lender is unlikely to process the application.
-The Lender will take into consideration the access to the property, the proximity of family land/agricultural or other outbuildings.
-Your mortgage payment is based on total balance at each drawdown stage until final drawdown stage.
 
We are chuffed to share with you some of our clients beautiful unique self-build  homes.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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How to find us
155 Spencer Road Derry-Londonderry BT47 6AH

CONTACT

Kelli Wilson trading as KW Mortgages is an Appointed Representative of PRIMIS Mortgage Network which is a trading name of First Complete Limited. First Complete Limited is authorised and regulated by the Financial Conduct Authority. 

Your home may be repossessed if you do not keep up payments on your mortgage.

We do not charge a fee for initial consultation or insurance advice. However, depending on your circumstances and the mortgage product, if we charge a fee it will range from £250 - £300, which will be payable on receipt of a formal mortgage offer. The fee will be discussed and agreed with you at initial consultation.  

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

+44 7834 029614
office@kw-mortgages.com
Kelli Wilson trading as KW Mortgages is an Appointed Representative of PRIMIS Mortgage Network which is a trading name of First Complete Limited. First Complete Limited is authorised and regulated by the Financial Conduct Authority. 

Your home may be repossessed if you do not keep up payments on your mortgage.

We do not charge a fee for initial consultation or insurance advice. However, depending on your circumstances and the mortgage product, if we charge a fee it will range from £250 - £300, which will be payable on receipt of a formal mortgage offer. The fee will be discussed and agreed with you at initial consultation.  

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

© 2022 KW-Mortgages | Kelli Wilson Mortgages & Protection
© 2022 KW-Mortgages | Kelli Wilson Mortgages & Protection
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