Self build mortgage options

T

thos

Registered User
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Hi all,
I am looking for a self build mortgage. Have site, PP, tendering done and fixed price contract almost ready to go.

We have been dealing with a broker who hasn't been great and so far we have only lodged a single application, with an unclear response so far. I want to hedge my bets and start talking to a few other banks.

Are there any banks specifically in the business, or NOT in the business, for self build mortgages? Is it still a case of calling on all banks?

I'd be interested to hear which banks have been lending for self build.

Thanks,
Tom
 
KBC don't do self-build mortgages. Ones that I know that do are AIB, ICS, Haven & Permanent TSB.

Ulster Bank, Danske, EBS & Bank of Ireland don't deal with brokers so I don't know about them.
 
In my recent experience it's BOI & EBS. Both have different criteria, BOI will want you to put your own funds into the build up front, up to 20% of the build cost and EBS will make you get approval at a build cost of a min €85 per sq ft with a 10% extra cost for overrun no matter what your actual coatings are. I would and visit both straight and get the info straight from them.
 
Ulster bank and AIB do self-build mortgages also, they didn't require any up-front funding from us (but they were different times indeed)
I'm sure you've thought about this already - how many tranches you'll need and ensuring these are agreed with your contractor ?
 
we self built seven years ago, had savings but did get a sizable loan from credit union.
 
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