How much deposit is required to get a self build mortgage?

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How Much Deposit Is Required To Get A Self Build Mortgage?

The deposit for a self build mortgage has a minimum of 25%. You will need to finance each stage of the project on your own, thus you will need to be able to afford up 100% of the cost for each stage. At the end of each stage the lender will then pay you on grounds of a valuation up to 75% of value or cost depending on which one is lower, and thus in some cases your deposit amount may be greater than 25%.

To find the required deposit there are two popular options, firstly through saving or borrowing from family or friends, and secondly if you currently own a property which has equity, you could raise the deposit by Remortgaging. Alternatively you could get bridging finance to bridge the gap between the building period and recieving payments, this method of raising a deposit could be very expensive.

Self Build Mortgages Frequently Asked Questions

Choosing an Architect project?	What is Planning Permission?
How much deposit is required ?	What are the Stage Payments?
What is the mortgage Inspections?	How does the Lender Minimizes his risk ?
Choosing a Quantity Surveyor ?	What are the budget and costings ?
Choosing a Building Contractor?	What does the Lender Require from me ?

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