Our traditional mortgage works on a typical arrears stage payment basis. But, what you'll find is that our lending partners can offer your customers up to 85% of both land and build costs - around 10% higher than most other lenders - and this makes life easier all round.
Our higher lending percentage quite simply means that your customers will have more money, enhanced cashflow and greater flexibility if they only have a small deposit. It can even make the difference between having to sell their existing home or being able to stay in it during their build project.
For self build projects, funds (up to 85% for land) are released to buy the plot, with the money (again 85% of cost) for the actual build being released at the end of each of the stages.
For a conversion or renovation project, funds are released to buy the property (usually up to 85% of the purchase price) and the money for building costs (again up to 85%) is released at the end of each stage.
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