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Self Build Mortgages

Anyone who’s considered building their very own ‘grand design’ knows that financing the project can be one of the biggest challenges ahead. At esbs we like to make it our job to help turn the dream into a reality with our dedicated mortgages for self builds.

We are also able to support with a remortgage for a self build project that has already started to help keep progress on track.

Additionally we will consider mortgages for self builds to cover land purchases (with planning permission), buying a property to renovate as well as barn conversions, meaning you can get on with the most important bit, getting that project off the ground.

The Criteria For a Self Build Mortgage

We can even consider a self build project where planning permission has been granted and is subject to an agricultural tie clause, or a Section 106 occupancy clause.

With a self build mortgage loan, money is released in installments so it’s good to know you will have a specialist adviser supporting you throughout.

We can consider lending up to 75% of the value of the land and up to 75% of the value as the works progress.

And to help with cash flow and budgeting, it may be possible for this to be interest only until the property is completed and you move in.

We know that no two projects are alike so we take every self build mortgage application on its own merits and make sure that every single one of our customers is treated as an individual.

Qualifying For a Self Build Mortgage

To qualify for a self build mortgage loan, we do ask that:

  • The property is detached
  • It must be for your residential use so can not be built for commercial purposes, including to be let out
  • In the main, it must be built using standard construction materials but please feel free to chat this through as Non-standard construction considered if BOPAS accredited (In which case the criteria alters slightly – Maximum loan £250,000, Capital and Interest only and Maximum term of 25 years)
  • The property will have a suitable Warranty or Professional Consultant Certificate (PCC) (See list of acceptable Warranties and Architect qualifications below)
  • The Warranty will need to be for a minimum of ten years and the PCC will need to be for a minimum of six years
  • Retrospective Warranties and PCCs are acceptable

Acceptable Professional Consultants are:

  1. fellow or member of the Royal Institution of Chartered Surveyors (FRICS or MRICS)
  2. fellow or member of the Institution of Structural Engineers (F.I.Struct.E or M.I.Struct.E)
  3. fellow or member of the Chartered Institute of Building (FCIOB or MCIOB)
  4. fellow or member of the Architecture and Surveying Institute (FASI or MASI)
  5. fellow or member of the Chartered Association of Building Engineers (FCABE or MCABE)
  6. fellow or member of the Chartered Institute of Architectural Technologists (formally British Institute of Architectural Technologists) (MCIAT)
  7. architect registered with the Architects Registration Board (ARB). An architect must be registered with the Architects Registration Board, even if also a member of another institution, for example the Royal Institute of British Architects (RIBA), or
  8. fellow or member of the Institution of Civil Engineers (FICE or MICE).

Acceptable Warranty schemes are:

  • Advantage
  • Build-Zone
  • FMB’s “Build Assure”
  • Global Homes
  • ICW
  • LABC
  • NHBC
  • Premier Guarantee
  • Protek

If none of the above is available then we could still consider a self build application, provided the maximum LTV is no more than 33%, and the property is subject to a satisfactory building survey provided by the Society’s panel valuer (post construction cases only).

Self Build Mortgage Products

Click on the product below to find out more

Self-build Mortgage SVR less 1.00% for 5 years5 years8.39%7.39%
(Floor 2.5%)
8.3%2 years75% on land and up to 75% at stage release£1,125 Arrangement Fee


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