BuildStore - self build, renovation & home improvement

Comparison of Self Build Mortgage Types

There are three types of self build mortgages available in the current marketplace. These are defined by when the funds are released to you, during the build process (either in arrears or advance) and the level of funding provided at each stage.

BuildStore's Accelerator Mortgage Scheme is the only mortgage that works on an advance stage payment basis. It also offers up to 90% on your land and build costs - which is around 15% higher than many other providers. Exclusively available from BuildStore.

BuildStore's Traditional Mortgage Scheme offers up to 85% on both land and build costs - which is around 10% higher than most lenders - with stage payments in arrears. Exclusively available from BuildStore

Standard Traditional Mortgage offered by all self build and mortgage providers, this mortgage will typically provide up to 75% of your land and build costs, with stage payments in arrears.

The right mortgage for you will depend on your individual circumstances. The expert advisers at BuildStore Mortgage Services can access all three mortgage types, and will find the right finance for you based on your financial needs, and the requirements of your project. The chart below shows the effect on the funding for a traditional brick and block construction, when using each of the above mortgage types.

Project Costings
Land
Foundations
Wall Plate
Wind & Watertight
First Fix
Completion

£171,000
£  7,605
£ 13,653
£ 16,953
£ 12,851
£ 11,688

BuildStore Accelerator Mortgage Scheme KEYFEATURES

  • Borrow up to 90% of the cost of your plot
  • Borrow up to 90% of the cost of your build
  • Receive your money in agreed stage payments subject to valuation
  • Stay in your current home as you build
  • Choice of leading lenders, products and competitive rates

BuildStore Traditional Mortgage Scheme
KEY FEATURES

  • Borrow up to 85% of the cost of your plot
  • Borrow up to 85% of the cost of your build
  • Receive your money in agreed stage payments subject to valuation
  • Stay in your current home as you build
  • Choice of leading lenders, products and competitive rates

Standard Traditional Mortgage
KEY FEATURES

  • Borrow up to 75% of the cost of your plot
  • Borrow up to 75% of the cost of your build
  • Receive your money in agreed stage payments subject to valuation
  • Choice of leading lenders, products and competitive rates

Your home may be repossessed if you do not keep up repayments on your mortgage.

For arranging self build and custom build mortgages, we charge a fee of 695. 95 is payable on application
and a further 600 on offer. For all other mortgages we charge a fee of 395 which is payable on offer.

2017 BuildStore Mortgage Services Ltd. All rights reserved.

BuildStore Mortgage Services Limited is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited
which are authorised and regulated by the Financial Conduct Authority.
BuildStore Mortgage Services Limited. Registered Office: 8 Houstoun Interchange Business Park, Livingston, EH54 5DW. Registered in Scotland Number: SC448916

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