self build mortgage

[giardiniera]

I'm just wondering is it possible for a FTB to get a mortgage for a site and self build?

 

[Brenbo]

Yes, most banks do self build mortgages.
Norm is that you need 25% of the site cost to start and 90% LTV for completion. Credit crunch may tighten things.

 

[euromortgage]

Haven do a good self build product and its open to firsttime buyers:

They offer the following for self builds:
Up to 90% site cost & 100% construction cost.
Unlimited No. of Stage Payments
12 months interest only option
40 year term

You'll have to go through a broker to get a mortgage through Haven though

 

[giardiniera]

thanks for that its good to know. Didn't think we had any chance of getting one.