|
The Accelerator
self build mortgage provides lending of up to 95% of the cost
of the land and 95% of the cost of the build with stage payments
on the build made at the start of each build stage rather
than at the end. The difference between this advance payment
and an arrears payment self build mortgage can be seen below.
The arrears payment is based on a typical lender lending a
maximum of 75% of the land cost and 75% of the build cost
with stage payments in arrears.
Brick & block construction
|
Stage of build
|
Cost of stage
|
Standard self build mortgage
lending
|
Accelerator Self Build
Mortgage lending
|
Additional cash flow
provided by Accelerator Mortgage at each stage
|
|
Purchase of land
|
£65,000
|
£48,750
|
£61,750
|
£13,000
|
|
Preliminary costs and foundations
|
£13,000
|
£0
|
£12,350
|
£25,350
|
|
Wall plate level
|
£17,000
|
£9,750
|
£16,150
|
£31,750
|
|
Wind & watertight
|
£17,000 |
£12,750
|
£16,150
|
£35,150
|
|
First fix & plastering
|
£12,000
|
£12,750
|
£11,400
|
£33,800
|
|
Second fix to completion
|
£16,000
|
£9,000
|
£15,200
|
£40,000
|
|
Final payment from standard mortgage when
build complete
|
|
£40,000
|
|
|
|
Totals
|
£140,000
|
£133,000
|
£133,000
|
|
Timber frame construction:
Increasing numbers of Self
Builders are utilising Timber Frame construction. Most Timber
Frame manufacturers require payment in full for the kit prior
to delivery. Only Accelerator can provide mortgage funds to
purchase the timber frame kit up front.
| Stage
of build
|
Cost of
stage
|
Standard
self build mortgage lending
|
Accelerator
Self Build Mortgage lending
|
Additional
cash flow provided by Accelerator Mortgage at each stage
|
|
Purchase of land
|
£65,000 |
£48,750 |
£61,750 |
£13,000 |
|
Foundations
|
£13,000
|
£0 |
£12,350 |
£25,350 |
|
Timber frame kit erected
|
£20,000 |
£9,750 |
£19,000 |
£34,600 |
|
Wind & watertight
|
£14,000 |
£15,000
|
£13,300 |
£32,900 |
|
First fix & plastering
|
£12,000 |
£10,500 |
£11,400 |
£33,800 |
|
Second fix to completion
|
£16,000 |
£9,900 |
£15,200 |
£40,000 |
|
Final payment from standard mortgage when
build complete
|
|
£40,000
|
|
|
|
Totals
|
£140,000
|
£133,000
|
£133,000
|
|
|
