# self build mortgage recommendations?



## studio.jk (14 May 2007)

Hi 

Just wondering if anyone would care to give me some opinions on who they'd recommend for a self-build mortgage.

I bank with ptsb, so I've arranged for a chat with them - but I'd be interested in knowing if you think some banks are better than others in this area of lending.

ta
JK


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## bobk (14 May 2007)

depending on the details, the best banks for self build would tend to be IIB, PTSB, EBS, First Active & Ulster Bank

some offer better rates, some are more flexible in the way you want to structure the deal.


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## Demps (14 May 2007)

Hi bobk,

Any experience of NIB or would You lump them in with the bigger banks


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## yop (14 May 2007)

Demps, we have ours with NIB, they were fine for the self build, never an issue.


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## Demps (14 May 2007)

Hi Yop,

Thanks for the reply - One question when You got Your mortgage from NIB what way did it work? Were You on a fixed interest rate whilst receiving the stage payments, were you on fixed or variable (was it an option at that time), are You now on a different package than during the build (eg tracker etc.) Sorry for all the questions!

just had a look at the blog - excellent source of info. for the selfbuilder


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## studio.jk (14 May 2007)

Demps - what blog - where can I see that too? Sounds as if it could be worthwhile

ta
JK


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## studio.jk (14 May 2007)

Demps - what blog - where can I see that too? Sounds as if it could be worthwhile

ta
JK


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## yop (15 May 2007)

Demps said:


> Hi Yop,
> 
> Thanks for the reply - One question when You got Your mortgage from NIB what way did it work? Were You on a fixed interest rate whilst receiving the stage payments, were you on fixed or variable (was it an option at that time), are You now on a different package than during the build (eg tracker etc.) Sorry for all the questions!
> 
> just had a look at the blog - excellent source of info. for the selfbuilder



We were on bridging finance at a variable rate for the duration of the build. We took it down in (as far as I can remember) 5 stages. First for the site, then for each stage there after.
We are just completing the cross over to an offset mortgage and as well as that leaving our AIB "rip off" current accounts behind us. We have 3 free current accounts & a savings account linked to the mortgage so our money is helping to reduce the interest!


Thanks, blog went on holidays last Sept so I only managed to get around to the pics in the last few weeks!!


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## paulocon (15 May 2007)

Have a look at



Might be some links of use there...


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## Demps (16 May 2007)

Thanks Yop great to hear some practical experience

Anyone else out there - gone through the selfbuild mortgage experience recently - any words of wisdom?


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## bartbridge (16 May 2007)

Sorry to piggy back on this forum but I just wondered if anyone knows of bank/brokers that have refused an application due to the planning being in one half of a couples name and the mortgage application being in both names? 

We are about to apply for planning but the application is in my OH's name as he is local to the area we are hoping to build in and I am not, so we thought it would make things easier. I've heard that some banks/brokers don't like giving mortgages unless both names are on the planning permission.

Has anyone experience of this?


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## Hel_n (16 May 2007)

Lenders decline mortgage applications, not brokers (at least that's how it should be).  Is the site in your partner's name or joint names?  If it is just in your partner's name this could cause problems.  In order for you to be considered as a joint applicant to the mortgage your name would need to be on the title deed of the site.


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## bartbridge (16 May 2007)

Sorry I meant lenders I suppose. Would we have to put both names on the planning application in that case? 

The site hasn't been signed over yet so we could put it in both names. In order to avoid paying the tax we would have to put it in my OH' s name first and then change it to both names later.


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## Demps (16 May 2007)

Can we return this thread to its original subject matter?

Start a new thread if You want to continue and gain further information, this thread title has nothing to do with what You are discussing!


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## bartbridge (17 May 2007)

Humblest apologies


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## Gav2 (17 May 2007)

studio.jk said:


> Hi
> 
> Just wondering if anyone would care to give me some opinions on who they'd recommend for a self-build mortgage.
> 
> ...


 
My Experience is Ptsb are best. But please add 10% to your costs for unforseen extras, it happens to everyone. However if you over run a bank will require a new application.


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