| Property | Three-bedroom timber-frame eco home |
|---|---|
| Location | Near Truro, Cornwall |
| Client | Couple relocating from London, both employed remotely |
| Product | Self-build mortgages |
The challenge
The buyers needed to buy a plot and fund the build, but had sold their London flat and were renting. Some lenders would not lend on plot purchase, and others wanted a large share of the build cost upfront.
What we did
We found a lender that funds part of the land purchase and then the build in stages. We provided the timber-frame supplier contract, structural warranty and a fixed-price build quote. We explained the risks of cost overruns and budgeted rental costs during the build.
The outcome
The plot was bought and the build funded through stage releases, with the couple's own savings covering the contingency.
Self-build mortgagesStage-release mortgages to buy land and build or substantially renovate your own home.
Learn moreImportant: Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice: up to 1% of the loan, typically £500.