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What does the Lender Require from me when applying for a self build mortgage?



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What does the Lender Require from me when applying for a self build mortgage?

Before a Lender approves any application he will want to minimises any potential risk that could effect the borrowers ability to repay. To do this the lender will need to ensure all documentations and paperwork are in order. The minimum information required by the lender are as follows,

The ownership and title deed of the land with copies from the land registry. The lender will be require to have sight of all local and national searches on the land. The planning permission from the local authority needs to be produced. The lender will also require that you provide details that the land will have access to all necessary utilities.

The lender will need to determine whether the project is commercially viable, they will therefore request a business plan, profit statement and cash flow proposals. The project will be assessed both with the above information and an evaluating of the team who are conducting the self build project.

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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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Mortgage Help Desk UK - Mortgage Products

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