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New Mortgage Concept Opens Up Home Improvement Market

New Mortgage Concept Opens Up Home Improvement MarketBuildStore have just launched a new ground breaking mortgage which makes it easier for people who want to buy a house which needs work done to it to bring it up to standard. Our Ideal Home Improvement Mortgage resolves the cash flow problems home improvers often have.

Typically, a lender will lend up to 95% of the cost of the house needing the improvements but will hold back part of the loan covering the improvements until the work has been completed. This is known as applying a retention.

The Ideal Home Improvement Mortgage can offer up to 95% of the cost of the property being improved and will then lend a further amount in stages to fund the improvements. These stages are released prior to each stage being started so the borrower has positive cash flow during the work being done.

Applicants will also receive a free Trade Card from BuildStore which entitles them to special prices and enhanced services from our partner merchants and suppliers.

For more information click here...

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Self builders demonstrate the way forward and could help solve the UK's housing crisis

The UK Housing Industry should take a leaf out of the self builders' book - that's the obvious solution to the latest Baker Report, published in March, which declared that the sector is in crisis. The report states that to keep house price inflation down to the European average of 1.1% an additional 120,000 houses are required. It also highlights two issues which are slowing up the supply of new houses; the slow speed of build-out of development as a result of too large developments being undertaken and the need for developers to adopt more modern methods of construction to speed up the process.

Clearly, some alternative thinking is required as gearing up Britain's large housebuilders to increase the housing supply to the required level is impossible in the short term. While self builders currently build 20,000 houses every year there is a pent up demand for more than double this number. With improvements and flexibility in planning and the availability of land, self builders are in a position to play a greater part in helping to reduce Britain's housing shortage.

If developers zoned part of their larger developments for self build the overall build-out times would be reduced by having multiple simultaneous developments on the one site.

BuildStore's managing director, Raymond Connor points out that if the government is looking to reduce build out times for developments, the self builder is an excellent person to help. He says: "The Barker report is advocating that house developers follow a lead already set by self builders in adopting more modern construction methods.

For many years self builders have used offsite prefabrication, for example, timber frame or structural insulated panels, as a quick and efficient way of getting their house built quickly. This helps self builders get round issues such as skill shortages which have beset the national and regional house builders."

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Unique Land Finding Service for Small Developers

Unique Land Finding Service for Small DevelopersSmall construction companies and residential developers have been given a boost with the launch of Land4Developers, BuildStore's exciting new database which lists residential land for development, with planning permission, across the UK. The database includes multiple plot listings for three dwellings upwards, as well as brownfield sites, such as warehouses and disused office space which have permission for residential development.

BuildStore's Managing Director Raymond Connor says "This is of real benefit to small developers who cannot afford to waste time viewing land that has no real potential. There are also environmental advantages as small developments can provide a stepping stone to burgeoning communities and original style homes.

Land4Developers recognizes the contribution which the smaller developer makes to the quantity and quality of housing stock in this country and provides them with a unique tool to keep in tune with development opportunities all over the UK."

For more information click here...

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Professional AdviceLegalLink: Specialist Legal Advice for Self Builders

BuildStore have teamed up with law firm Drummond Miller to present LegalLink, a specialist service for self builders. Made up of a team of highly-qualified solicitors LegalLink provides support for every stage of the self build process, which is more complex than buying a pre-built home.

The service includes legal advice on land purchases, conveyancing and estate agency services and the planning application process and even provides a steer on building requirements which must satisfy the National House Builders Council (NHBC).

Self builders requiring legal guidance can call LegalLink on 0131 665 7393.

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