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In the current climate, it can be difficult to know where to turn, when you receive a self build or renovation enquiry. While there are a handful of lenders that may offer your customer a mortgage, self build mortgages do require much more client contact and hand holding than standard mortgages, and very few lenders have experience in this market.
You need to explain how the mortgage works, you need to be able to help the client work out what their project is going to cost and how that breaks down between the different stages and you need to make sure that each of the stage releases in handled properly and that the money is released on time.
The cost effective solution for the intermediary and possibly the best one for the client is for the intermediary to make sure that they place their business with a company that is experienced in the self build market, and which can handle all customer queries and hand hold them through the process. |
