Stage Payment Mortgage
Stage Payment Mortgages
Are you looking for a mortgage that’s designed for a self build, custom build, renovation, or conversion project, or even to make some home improvements?
At BuildStore, we have tailored options for almost any mortgage with staged payment structures that ensure you have funds throughout the build.
Staged payment mortgages are designed specifically to suit the needs of the homebuilders. That’s because you’ll likely have to release funds at certain points e.g. for offsite workers who expect cash payments at arranged dates. This differs from a standard residential mortgage where all funds are released only once the sale or purchase is completed.
There are two types of stage payment mortgages offered through BuildStore; cost based mortgages and valuation based mortgages. Cost based mortgages provide guaranteed stage payments based on your costs before and after each build stage so you have the funds to pay for trades and materials before work begins. Valuation based mortgage products release funds upfront to purchase your plot, and then after each stage of works are complete, subject to an uplift I value at each stage.
You can discuss the stage payment mortgage options BuildStore has on offer through our panel of top UK-based lenders with our experienced mortgage advisers by contacting us directly or arranging an appointment online.