1

You can borrow up to 95% of land costs, up to 95% of build costs and up to 95% of the end value of your new home

The borrowing percentages on self build mortgages will vary from lender to lender and some will offer percentages as low as 75%. With the Accelerator Self Build Mortgage, the borrowing percentages are generous at 95%. You can borrow up to 95% of the cost of your building plot or renovation, so, even with a relatively small deposit, you can make sure that your project gets off the ground. You can also borrow up to 95% of the cost of each stage of your build and this is not subject to any interim valuations.

2

Your stage payments are paid at the start of each build stage so you enjoy positive cash flow right through your build.

With the Accelerator Self Build Mortgage, you receive your stage payments at the start of each build stage. This gives you ‘cash in hand’ right through your build, allowing you to leverage cash purchasing power when you are buying building materials, for example. Having positive cash flow is perhaps the greatest enabling factor for self builders – without it, many simply would not be able to find sufficient cash to fund the build.

3

You can stay in your current house as you build your new home

The Accelerator Self Build Mortgage is designed to run alongside your existing mortgage as you build. And because there is no need to sell your current house to release the equity it contains to fund the build, you can simply remain there until you are ready to move. No costly furniture storage, no caravan on site – Accelerator is flexible and convenient.

4

You can choose from a range of mortgages and interest rates

The Accelerator Self Build Mortgage is supported by a panel of leading lenders, including Skipton Building Society, Accord Mortgages, Ecology Building Society and The Mortgage Business. These lenders are happy to direct their self build customers to the Accelerator Self Build Mortgage scheme and some have even offered better mortgages to Accelerator customers than would be available through their branch network!

5

You can purchase your land with Outline Planning Permission

Being in a position to put in an offer on a potential building plot when it becomes available is a huge advantage for self builders. With the Accelerator Self Build Mortgage, you can purchase land with only Outline Planning Permission, so you are free to move quickly if such a plot becomes available. Some lenders will only lend on Detailed Planning Permission, which can take months to be arranged, and would also assume that you could provide a detailed specification for the house.

6

If you are self employed, Accelerator offers a self certification mortgage

Many self builders who approach BuildStore Finance are self employed and are delighted to hear that there is a self certification option with the Accelerator Self Build Mortgage. The self certification mortgage, funded by The Mortgage Business, enjoys all the usual Accelerator benefits – high lending percentages and no need to sell your current house until you are ready to move.

Releasing money in advance

To enable money to be released in advance and provide a positive cash flow, BuildStore has designed a unique additional cash flow benefit scheme. This provides the additional security required by the lender to allow them to release money at the start of each stage of the build.

The scheme ensures that you can borrow the amounts you need for each stage when you need them as the funds will be released as per the cost of your building work and will not be subject to a mortgage valuation figure.

The cost is met by the borrower by paying the Additional Cash flow Benefit Fee but the savings made by not needing interim valuations at each stage of the build and the benefits of the positive cash flow provided mean that the overall cost of the project will be lower. In addition because you are not waiting for valuations to be carried out before each stage payment is released, money is released more quickly, speeding up the completion of the project