If you are using a mortgage to fund your custom build project, you'll need a specialist approach.

Traditional mortgages are only offered for completed homes, but with this type of project, you'll need a custom build mortgage, which similar to self build, releases funds in stages. In some cases, the lender will inspect the work before each payment is made from plot purchase through to completion. This is known as a valuation based mortgage and stage payments are made in arrears.

With custom build, a cost based approach can be more suitable because each of your stage payments is based on your project costs, and releases are made before or after each stage of the project. This makes life easier for you and the developer that is facilitating your home as the stage payments are guaranteed, and will not be impacted by a low point valuation during the construction of your home.

Your stage payments will be tailored to your bespoke home's costs. - whether you opt for a serviced plot, customisable homes which are designed for you to choose your floor layout or a turnkey solution (where you are involved in the design stage and the developer does the rest).

With a custom build mortgage from BuildStore, you can borrow up to 95% of the cost of your plot and up to 95% of the cost of your build, either in arrears or advance. These higher percentages make it possible to stay in your current home, while your new home takes shape, so you can avoid the upheaval and expense of moving into temporary accommodation.

BuildStore Mortgage Services offers a range of exclusive mortgages that are suited to custom build homes. We are the main mortgage provider on most custom build sites that have been brought to market in the UK, to date.