I looked for this question in previous threads but couldn't find it: I have a site and wish to get a mortgage to build a house. From viewing the various mortgage provider websites they all say that 100% mortgages are not available for self build. Are there any exceptions to this, i.e does the value of the land I own make a difference?
Yes- from what I know the value of your site will help and you only require 100% of the build costs, which might be for example a 75% mortgage based on your site value.
If you already own the site most lenders will advance 100% of the build costs as the value of the land is effectively the deposit. The end value of the house should be well in excess of the mortgage.
am doing the same at the moment, ebs have information booklets in all their braches underlining their 100% self build mortgage. i am employing a building contractor and get a mortgage to cover the build, council fees, plus contingency plan!