C
catchya
Guest
We are about to apply for a mortgage for a self build. We are purchasing a one acre site from a friend for 60k. It has full planning and so it's market value when compared to other sites in the area, would be in the region of 120k. (Not professionally valued yet.)
I am a permanent and pensionable paye worker and husband is self employed. His business has made a loss in recent years due to illness etc but is turning around. We were hoping to apply for a mortgage on my income of circa 800 per week. We have some debt built up over the last 4/5 years for various reasons i.e. illness and I am starting up my own business also which has needed financial funding to set up to date.
We are going down the direct labour route and a number of family members are trades people who will give us a helping hand!
Basically what I would like to know is whether anyone here has been in the same situation. We would like to amalgamate all our loans at the outset if that was possible as it' expected that the house will be worth 350,000-400,000 on completion but would only take 275,000 to buy the site and build (estimate!). Can anyone give us some advice on who best to approach and if we'd be better to go through a broker? Our credit rating is very good apart from 2 missed credit card payments.
I am a permanent and pensionable paye worker and husband is self employed. His business has made a loss in recent years due to illness etc but is turning around. We were hoping to apply for a mortgage on my income of circa 800 per week. We have some debt built up over the last 4/5 years for various reasons i.e. illness and I am starting up my own business also which has needed financial funding to set up to date.
We are going down the direct labour route and a number of family members are trades people who will give us a helping hand!
Basically what I would like to know is whether anyone here has been in the same situation. We would like to amalgamate all our loans at the outset if that was possible as it' expected that the house will be worth 350,000-400,000 on completion but would only take 275,000 to buy the site and build (estimate!). Can anyone give us some advice on who best to approach and if we'd be better to go through a broker? Our credit rating is very good apart from 2 missed credit card payments.