Not sure Broker or Bank?

Hi,

My partner and I are looking to buy property and build (using contractors), however most of the sites I visited are for buying houses not building.

We are FTB looking for €250K, for 25yrs, on a 3yr fixed rate. At the moment Bank of Scotland looked to be the best however I read on another website that they don't give mortgages to people looking to build. Is this correct?

Also who is better to go to the broker or the bank? Who would be more helpful with advise for this situation?

Any advise or help would be much appreciated.

A phone call to BoS should answer your question. Why not talk to a broker first to see what he can offer and also approach some of the banks/building societies in your locality. Mostly it depends on your financial position and LTV ratio. The lower the risk you are the more options will be available,

BOS do not do self builds.
Is your loan to value less than 80% - if so have a word with NIB directly.
If not use a broker but make sure it is independent and has an agency with all the lenders.
If it can also add value somewhere else (subsidised legal fees, free valuations) then all the better.

Thank you NorfBank and BrenG. I think I will ring a few brokers like REA, IFG and simply mortgages and see how I go. I'm definitely going to shop around and from there I will choose the best option.

Thanks again for all your help.

BOS do self builds - we have recently been approved by them for a mortgage for building.

DeeSmith,
Are you sure, sorry for being pedantic but was this a mortgage for a new build or for a renovation of an old property.
I just rang Bank of Scotland to confirm and a lovely girl called Corina advised they do not do self builds.