For borrowers who are building their own home. This product is available for first time buyers. This product is only available via BuildLoan.
6.59% variable
8.79% variable
9.2% APRC
80% including fees
None
£1,499
£695
£1,600
Charges will apply to full redemption paid
3% in the first year
3% in the second year
A mortgage of £108,943 payable over 15 years initially on a discount of 2.20% from our Standard Variable Rate, currently 8.79%, giving a pay rate of 6.59% for 2 years on an interest only basis and then on our Standard Variable Rate, currently 8.79%, for the remaining period on a capital repayment basis would require 24 payments of £598.28 and 156 payments of £1,174.04.
The total amount payable would be £202,079.76 made up of the loan amount plus interest (£88,565.76), a product fee (£1,499), a valuation fee (£340), legal fees (£312), an exit fee (£100), a Build Loan security fee (£1,600), a Build Loan packager fee (£695) and a funds transfer fee (£25).
The overall cost for comparison is 9.2% APRC representative.
Valuation/re-inspection fees and solicitor fees may be payable
Other charges may be made in respect of mortgage services
Build Loan packaging fee £695 - £95 payable at application stage and £600 after offer is issued. Non-refundable.
Build out insurance from Build Loan £1,600.
See our fees guide for more details
This product accepts our standard credit criteria click here for details
There is a charge of 3% of the capital balance for full redemption made in the first 2 years.
Overpayments are not permitted.
These mortgages are available on an interest only basis during the first 2 years of the build, changing to capital repayment for the remainder of the term. Payments must be made monthly by direct debit.
Advances are made in advance based on the valuer's estimate of the value once the next stage is completed for the following stages:
Stage 1 – Land with full planning permissions (max 80% Loan to cost)
Stage 2 – Foundations to damp proof level (max 85% Loan to cost)
Stage 3 – Wall plate level (max 85% Loan to cost)
Stage 4 – Roof on and watertight ( max 85% Loan to cost)
Stage 5 – Plastered out first fix ( max 85% Loan to cost)
Stage 6 – Fully completed ( max 80% LTV)
The build must start within 6 months of the offer.
The build must complete within 24 months of the first stage release.
Maximum LTV on the release of funds at completion not exceeding 80% up to £750,000. Please contact us for full details.
The minimum age is 21 for all applicants. There is no maximum age. Earned income considered up to age 75. Cases are considered on individual circumstances.
Minimum loan size £100,000
Maximum loan size £750,000
Minimum property value is £125,000.
The maximum mortgage term is 40 years dependent on individual circumstances.
This product is not portable.
Interest is calculated daily on the balance outstanding and added to the account the following month.
For borrowers who are building their own home. This product is available for first time buyers. This product is only available via BuildLoan.
6.59% variable
8.79% variable
9.2% APRC
80% including fees
None
£1,499
£695
£1,600
Charges will apply to full redemption paid
3% in the first year
3% in the second year
A mortgage of £108,943 payable over 15 years initially on a discount of 2.20% from our Standard Variable Rate, currently 8.79%, giving a pay rate of 6.59% for 2 years on an interest only basis and then on our Standard Variable Rate, currently 8.79%, for the remaining period on a capital repayment basis would require 24 payments of £598.28 and 156 payments of £1,174.04.
The total amount payable would be £202,079.76 made up of the loan amount plus interest (£88,565.76), a product fee (£1,499), a valuation fee (£340), legal fees (£312), an exit fee (£100), a Build Loan security fee (£1,600), a Build Loan packager fee (£695) and a funds transfer fee (£25).
The overall cost for comparison is 9.2% APRC representative.
Valuation/re-inspection fees and solicitor fees may be payable
Other charges may be made in respect of mortgage services
Build Loan packaging fee £695 - £95 payable at application stage and £600 after offer is issued. Non-refundable.
Build out insurance from Build Loan £1,600.
See our fees guide for more details
This product accepts our standard credit criteria click here for details
There is a charge of 3% of the capital balance for full redemption made in the first 2 years.
Overpayments are not permitted.
These mortgages are available on an interest only basis during the first 2 years of the build, changing to capital repayment for the remainder of the term. Payments must be made monthly by direct debit.
Advances are made in advance based on the valuer's estimate of the value once the next stage is completed for the following stages:
Stage 1 – Land with full planning permissions (max 80% Loan to cost)
Stage 2 – Foundations to damp proof level (max 85% Loan to cost)
Stage 3 – Wall plate level (max 85% Loan to cost)
Stage 4 – Roof on and watertight ( max 85% Loan to cost)
Stage 5 – Plastered out first fix ( max 85% Loan to cost)
Stage 6 – Fully completed ( max 80% LTV)
The build must start within 6 months of the offer.
The build must complete within 24 months of the first stage release.
Maximum LTV on the release of funds at completion not exceeding 80% up to £750,000. Please contact us for full details.
The minimum age is 21 for all applicants. There is no maximum age. Earned income considered up to age 75. Cases are considered on individual circumstances.
Minimum loan size £100,000
Maximum loan size £750,000
Minimum property value is £125,000.
The maximum mortgage term is 40 years dependent on individual circumstances.
This product is not portable.
Interest is calculated daily on the balance outstanding and added to the account the following month.