Our mortgage customers say...
Mortgage customer read more"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage."Mrs Main
Discounted for 2 years
Early Repayment Charges apply.
This product may be withdrawn at any time.
This product is available via BuildStore. We will not provide advice on this product.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Our range of self and custom build mortgage products have been designed to help borrowers who dream to build their own home.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The minimum mortgage amount is £50,000 and the maximum mortgage amount is £600,000.
The minimum property value upon completion of the build is £75,000 increasing to £250,000 for properties located within the M25 corridor.
The maximum loan to value is 85% during the build phase.
The minimum repayment term is 5 years and the maximum repayment term is 35 years.
You will only qualify for this product for 2 years from inception, by which time the build should be completed and you can apply for any suitable product from our standard mortgage range.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The interest rate is floored which means that the rate on your mortgage cannot drop below 4.64%.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Early Repayment Charges apply during the product term. Up to 10% of the original mortgage amount can be overpaid each year without charge, however, if the mortgage is redeemed or switched to another product during the product term, then the full amount of the Early Repayment Charge will apply.
The Early Repayment Charge will be calculated as follows:
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The fees and charges that can apply during the term of your mortgage are detailed on our mortgage tariff of charges download.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
A mortgage of £145,500 payable over 16 years and 6 months initially on a discounted variable rate for 2 years from inception, currently 4.64% (equal to a 0.30% discount from our SVR) and then our SVR, currently 4.94% for the remaining term would require an initial payment of £1,098.02 followed by 21 monthly payments of £1,079.43 and 170 monthly payments of £1,099.94.
The total amount payable would be £212,380.85 made up of the mortgage amount plus interest (£65,255.85) with legal fees of £150, a valuation fee of £325, Build Out Insurance cover of £1,000, telegraphic transfer fees of £25 and mortgage exit fees of £125.
The overall cost for comparison is 5.1% APRC representative.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
We will lend on most properties built using standard construction methods and materials (brick or stone walls with a tiled or slated roof). We can also consider the following property types (subject to valuation):
However, we will not lend on flats and apartments in blocks above five storeys high and we will not lend on ex-local authority flats or maisonettes.
If you're unsure whether your property type fits our criteria, please contact us and a Mortgage Adviser will be happy to help. Call 0121 557 2551, visit a branch or complete our online form.
If you are experiencing difficulties in keeping up with your monthly repayments you should contact us as soon as possible so that we can ensure you get the right help and advice. You can contact us by completing our contact form, or calling our specialist team on 0121 557 2551.
One of our Mortgage Advisers will assess your affordability during your appointment, however you can use our online affordability calculator to get an idea of what you may be able to borrow. To book an appointment please call us on 0121 557 2551, visit one of our branches or complete our contact us form.
A standard valuation report is used to calculate how much we will lend you. This is separate from any valuation or survey of the property you might want to commission for your own use. There are other homebuyers or structural survey options available to you at additional cost.
Some of our mortgages offer free valuations and the product pages will tell you if this is the case. Our mortgage valuation charges page will provide details of the costs incurred for both a standard valuation and the more detailed homebuyers report.
Monday - Tuesday | 09:00 - 17:00 |
Wednesday | 09:30 - 17:00 |
Thursday - Friday | 09:00 - 17:00 |
Saturday | 09:00 - 12:00 |
Sunday | Closed |
Our mortgage customers say...
Mortgage customer read more"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage."Mrs Main
Our mortgage customers say...
Mortgage customer read more"My experience with the Society has allowed me to get a mortgage I am happy with and I know they are only at the other end of the phone if and when I need them."Miss Savell-Boss
Your home may be repossessed if you do not keep up repayments on your mortgage.