A self-build mortgage gives you the freedom to build a home to your exact specifications. You’ll source a plot of land, find architects to design your home and employ contractors to carry out building work on your behalf.
Self-build mortgages are different to most because funds are released in instalments as your project progresses. You’ll receive the first instalment when you purchase your plot of land and the rest as your build reaches certain milestones.
Although the upfront costs of design, build and materials can be quite expensive, self build properties are exempt from stamp duty and once finished, are often valued higher than the amount it cost to build them.
