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Hi guys,

Can anyone give me an indication of how the self build borrowing works in the current climate. We could streth ourselves to buy a site we are interested in, via cash. Are there any banks that will then provide full cost for the build (or even part of the site) using the site as security or do you generally still need to fund some of the build cost yourself as well?

Thanks

GT

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Thanks Doccyboy. Impressive quick response! :)

This link (@ the bottom) http://www.selfbuildabc.co.uk/building/self-build-mortgages.asp appears to suggest some lenders will release the first stage of payment after the site has been bought. Can any self builders confirm this is correct and if so generally what % of funds would get released at this stage?

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I have not been through the process, but I have read (several times) Mark Brinkley's excellent book "The Housebuilder's Bible":

http://www.amazon.co.uk/Housebuilders-Bible-ninth-Mark-Brinkley/dp/1905959443

In it is described in detail how staged payments work in self-build projects.

It's essential reading, in spite of the copious typos and miniscule font.

Regards,

Mr Smith

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Out of interest, where did you buy the land? Considering a self-build myself - there are a couple of subscription websites with land for sale, but not quite at the stage where I want to sign up. Wondering if it's worthwhile though.

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catmandu - as a general rule I wouldn't bother with subscription websites for building sites.

I subscribed to one (plotsearch) and found that a significant % of sites listed only gave basic information and a link to another pay to view website.

really irritating.

as an asside, I am looking for sites in western NI, maybe around Enniskillen and have noticed a lot of sites advertised that seem to have planning permission expired.

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catmandu - as a general rule I wouldn't bother with subscription websites for building sites.

I subscribed to one (plotsearch) and found that a significant % of sites listed only gave basic information and a link to another pay to view website.

really irritating.

Good info to have - thanks, I'll avoid paying.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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