Call - 01606 330 395
Providing the right Mortgage and Protection Solutions for You…
Self Build Solutions
Mortgage Solutions are Authorised and Regulated by the Financial Conduct Authority for Mortgages and non investment business. FCA No: 481789
The guidance and/or advice contained in this website is subject to UK regulatory regime, and is therefore targeted at consumers in the UK.
Specialists in Self Build Finance
Self Build had become more popular because of soaring property prices a few years back. This made it harder than ever for buyers to get ahead in the property market. Now with property prices having fallen, building you own home has become even easier as a lot of developers are selling off land banks at more realistic prices.
Building your own house may seem a daunting task but it is a way to get a home which may meet all your needs and may cost less than buying one already built from a developer.
A self-build mortgage is exactly what it says on the packet. It is a home loan you take out to finance building your own house. When you take out a self-build loan the money is released in instalments at the different stages of the build with an initial loan to buy the land.
Payments are then made at different stages of building the property.
There are two types of mortgage which could be used. The first option is a traditional arrears-based mortgage released in staged payments on completion of each stage. The second option is an advance payment scheme which releases funds in advance of each stage of construction. There are different ways in which this money can be released and your choice of product and lender will depend on your own particular circumstances.
What are our charges?
We normally charge a fee of up to £500 depending on your circumstances. This amount becomes due of offer and we would normally accept payment on completion. We will also be paid commission from the lender.
Renovation or Conversion Finance
Finance is one if the most important starting points for a self build or renovation or conversion project. If you need to borrow money then finding the right mortgage for your build is crucial to ensuring the success of the project.
If you are building or converting a house that is anything other than a detached property. You may struggle to find a suitable lender for your project. We may be able to help as we have had experience in helping clients find a lender.
Your home may be repossessed if you do not keep up repayments on your mortgage or other loan secured on it.
To enable us to find the right mortgage for you we have adopted a strategy which entails 2 meetings.
The FIRST meeting is FREE. At this stage we cover two main areas. Firstly we go through with you the “Initial Discussion Document” which covers all the regulatory items that we need to explain to you as required by the regulator, the Financial Services Authority.
Following this, and only when you are happy to proceed, we would then gather all the relevant information from you by completing a “Confidential Mortgage Enquiry Form”. On its completion we would then be able to source for you at our office the best available mortgage package for you by using our Mortgage Sourcing system.
The SECOND meeting would then be scheduled with you in order for us to give you our advice and make our recommendations to you based on your needs. If you then accept the proposal we would then proceed by completing a FULL application on your behalf to the chosen lender.
All meetings can be done either FACE to FACE or by telephone depending on your circumstances.
48 High Street, Northwich, Cheshire, CW9 5BE
Your home may be repossessed if you do not keep up repayments on your mortgage. The actual rate available will depend on your circumstances. Ask for a personalised illustration. The fee for mortgage advice depends upon your circumstances but we estimate it will be up to £500.