Download the article – Self-Build – we can make it happen!
The opportunity for self-builders to design and build their own homes is creating increasing opportunities for mortgage brokers. Are you making the most of the opportunity?
Self-build popularity
Self-build is popular across a wide demographic. Our self-build customers want to live, work and entertain in a custom-made setting which meets their exact needs.
Self-builders have a blank canvas that allows them to select personalised features for their properties whilst also having the opportunity to use preferred construction methods and materials, an important aspect for many customers today.
Factors like this are making self-build an attractive proposition with strong uptake.
Choosing the right lender
Harpenden is an experienced self-build lender. We will make the self-build financing option as easy as possible in what is often a complex situation.
Complexity is created from various scenarios. The need for customers to make repayments from multiple sources is one example, whether it be from assets and pensions, savings, investments or foreign currency, alongside regular income methods like salary. We try to find a solution however complicated the financial situation.
We are also finding a growing demand for more flexibility in how and when funds are released – we are happy to listen to customer requests. Harpenden’s policy is to release funds on a timescale agreed with the broker and the customer. A prescriptive process for release simply doesn’t work, and flexibility is a requirement. Without it, the build comes under increasing pressure. A fluid solution and strong dialogue ensure all parties involved can move efficiently to completion.
It’s important for brokers to partner with a lender who can best accommodate requirements like this and provide a straightforward and smooth customer outcome.
The Harpenden team understands the emotional and financial commitment involved in building a dream, self-build home. We take a flexible, pragmatic, and sensible approach to individually assess and understand each application, no matter how complex.
Our self-build products include the following features as well as competitive rates:
✔ Barn Conversions, New Builds, Knock Down and ReBuild or the purchase of land with planning permission
✔ New Builds on owner-occupied land
✔ 65% LTV for loans up to £1.5M, available anywhere in England or Wales
✔ 70% LTV for loans up to £999,999, where the property is in a prime area and the build project is professionally managed
✔ Up to a maximum of 3 properties being built, one to be subsequent main residence.
By coming to the experts first and partnering with Harpenden we can save customers both time and money.
We will make every effort to get your self-build mortgage across the line, however complex. Our team takes great satisfaction from getting the deal done for our brokers’ customers.
Chelsea Pordage, Telephone Business Development Manager, Harpenden Building Society