Harpenden Constructing Society has introduced again two self-build mortgages.
The mutual says its commonplace self-build mortgage as much as a most of mortgage to worth of 70% compensation and curiosity solely and its short-term self-build as much as 70% LTV curiosity solely, are completely accessible by means of Mayflower Mortgage & Finance.
Mayflower Mortgage & Finance works with brokers to supply merchandise for self-builds, renovations, conversions and business developments.
Product highlights embrace:
- 65% LTV for loans as much as £1.5m in England and Wales
- 70% LTV for loans as much as £999,999, the place the constructing challenge is professionally managed
- Barn conversions accessible for brand spanking new builds, knock down and rebuild, or for the acquisition of land with planning permission
- New builds on owner-occupied land
- The agency will contemplate versatile building sorts, topic to valuer feedback
- Self-build retention releases are usually not linked to levels
- Refurbishments are permitted, akin to changing a home that’s at present divided into two flats, again right into a single dwelling
- As much as a most of three properties will be constructed, one should be the subsequent predominant residence
- Switching to a typical residential price is out there as soon as the construct is full
- And a short-term product possibility is out there, with no early compensation costs after the primary 12 months