Self-Build Mortgages

A self-build project can help many of us turn our dream homes into reality. Despite the poor economy, the UK has seen a soar in self-build developments over the past year, with thousands of us creating a property that’s specified to our needs and requirements.  The procedure can be overwhelming and daunting to those who decide to take this on, with the stress of finding a plot to hiring the right professionals. Nevertheless the outcomes can be extremely rewarding and with the variety of self-build mortgages available; financing can be one less worry on your mind.

Building societies in Leicestershire offer a range of mortgages for self-builders. The new mortgage offered by “Hinckley & Rugby Building Society”, requires drawings to be supervised by a registered RIBA qualified Architect. The drawings are submitted with the mortgage application, building specifications and other necessary planning and building approvals, ensuring that the plans and regulations are to a professional standard. But land must have already been purchased before applying for this mortgage. Whereas “The Loughborough Building Society”, offer a mortgage available to a larger audience. This includes applicants who wish to;

+ Buy land and build a new property

+ Raise capital and build on land they already own

+ Convert an existing structure into a home

+ Purchase an existing property, demolish and rebuild

The biggest differentiation between a self-build mortgage and a regular residential mortgage is that funds are given to you during different stages of the build, instead of just one large lump sum, ensuring that money is spent as planned. Advantages also include, the self build mortgage the saving on stamp duty.

To ensure you self-build project goes as intended, it is advisable to hire trusted and experienced professionals. A range of professionals will be required for the job, such as builders, contractors, structural engineers and last but not least, an Architect.

So what exactly can you expect from an Architect? Creative flair, comprehensive knowledge and specialist guidance are just a few examples of the great qualities that an Architect can hold. These attributes can prove to be vital to any self-build project and with the help of the right professional; a build can often hold more style and elegance than one designed without an Architect.

There is often a misconception that Architects are only involved in the design process. But as well as giving you advise on how to use space efficiently and the different types of materials and fittings available, they can also provide you with invaluable assistance when planning and building are concerned. These areas are known to be stressful and daunting, but can be diminished with the support of an Architect. Some projects may even be managed by the Architects themselves, insuring that your self-build project is built on time and to budget.

For more information and advice on self-builds visit:

http://www.selfbuildportal.org.uk/

http://www.channel4.com/4homes/build-renovate/self-build-advice

http://www.channel4.com/4homes/buy-sell/house-prices-finance/self-build-mortgages-the-guide/display/page/1

 

If you’re looking for an architect, call us for a free consultation on 0116 2510606