You may be in a position to finance your build from your own funds, however self build mortgages are increasingly available.

Finding a self build mortgage is less straightforward than a mainstream mortgage mainly because there are fewer lenders. However there are a number of mortgage providers specialising in the area.

Once you find a lender, they will normally allow you to borrow a percentage of the projected value of the final build. This is typically up to 75% of the build cost. The loan is usually paid to you in arrears and released to you in stages. The stages generally correspond to stages in the build e.g. foundations, wind & water tight, first fix etc.

Excel Scotland does not provide financial advice but as part of our service we can put you in contact with independent mortgage brokers who specialise in sourcing self build mortgages.  Currently, Birmingham Solutions and the Scottish Building Society are the two main lenders for self build mortgages.