Welcome to The Complete Mortgage Company Ltd.

New Build Mortgages

Self Build Mortgages

Self build mortgages allow you to buy a plot of land and build a house on it whilst releasing the mortgage funds to you in stages as the build progresses.

You will still need a large deposit with a self build mortgage and you should expect to have to stump up more than 25% of the project’s total cost yourself, depending on the lender, this can actually be more.

The money will be released to you in 4 or 5 stages (or 6 if you include the purchase of the land!) depending on whether you want to have the cash stages paid up front, or in arrears. If you opt to take it in arrears, you get the funds when each stage is complete, you’ll be funding what you’ve already done stage by stage, sort of paying yourself back for the work you’ve paid for. This way you will need to have the cash available, cash flow might be something to consider. The stages are usually: Foundations, Roof Plate, Plastering; and Remainder of the property.

With advance stage payments you get the money to fund each stage when you need it, beforehand. This aids cash flow and should reduce stress levels a bit because money is not held back until completion of the build. The stages would likely be: Purchase of land, Initial costs and foundations, wall plate level, wind and watertight, first fix and plastering; and second fix and completion.

To find out which self build mortgage is best for you, please call us on 01480 393 393, or click on the enquiry link above.