Additional Security Fee

To enable us to establish your client's cashflow requirements during their project, we need your client to complete a costings form.

On the costings form, your client should put down a detailed breakdown of the work and cost of their project split into its various stages. We will then verify their costings to ensure that the property they wish to build is within their budget, and construct the cashflow necessary for their project. The cashflow forecast will illustrate the amount to be released either before or after each build stage of their project and will be used to calculate their Additional Security Fee.

The Additional Security Fee applies to mortgages with Melton Mowbray Building Society and Chorley Building Society. It is an insurance premium which is used to purchase an insurance policy for the benefit of the lender. The policy protects the lender against loss in the event that their self build property is re-possessed prior to the completion of the build, and offers the additional protection they require over and above the security they have from their land and build. It also allows the lender to release more money during the build than their standard lending policy would allow and/or advance stage payments.

For more information about the Additional Security Fee - please see below.

Additional Security Fee - Melton Mowbray Society

Additional Security Fee - Chorley Building Society