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Self build mortgage advice NI

What is a self build mortgage?

If you’re building your own home, either down the DIY route, or by employing an entire team of experts; chances are you’re going to need funding. Lenders will not provide you with a standard residential mortgage in a situation like this, you will need a self build mortgage.

The biggest difference is that the lender will give you the capital in stages throughout the project, this is to ensure that the money is spent as you planned and you don’t run out before the build is completed.

A huge advantage of building your own home and getting a self build mortgage in Northern Ireland is stamp duty. Stamp duty isn’t charged on the cost of building the house or the value once completed – it is only applied on the value of the land, if it worth more than a certain amount.

Your home may be repossessed if you do not keep up repayments on your mortgage.

How to apply for a self build mortgage.

Applying for a self build mortgage can be difficult and time consuming. Furthermore, if you were to approach a high street bank for a mortgage, they’re limited on the deals they can offer you.

As mortgage brokers, we have access to a panel of over 100 lenders, so we can compare the entire market and find the best deal for your circumstances. 

We are not happy until you are – so reach out and speak to us to start the journey of building your dream home.

Try our mortgage calculator.

Budgeting is important, so start now. Get an estimate of what lenders might loan you and also calculate a figure that could resemble a similar monthly mortgage payment

Looking for something else?

First time buyer mortgages

This is a mortgage that you will need advice on if you have never owned your own home before.

Home mover mortgages

If you’re looking for a new residential mortgage because you’re moving house, let us find you a deal.

Buy to let mortgages

A buy to let mortgage is a mortgage that allows you to purchase a house and rent it out as a source of income.