Intermediaries have found that BuildLoan has enabled them for the first time to offer a proper self build product and service to their clients with many of them previously reluctant to become involved in this area because it was poorly served.
Commenting on the success of BuildLoan. managing director Raymond Connor, said: “With almost 20,000 new self build homes completed last year, it is not surprising that intermediaries are having to rethink self build from a ‘niche market’ product to a ‘must have’ service for their clients. We are delighted by BuildLoan’s success to date and see significant growth potential through intermediaries in the coming year.”
Key Buildloan features include loans of up to 95% of the cost of the land, and up to 95% of build costs; self certification for self employed and contract workers; and stage payments of the mortgage are paid in advance of each build stage.
The service can be used for renovations and conversations as well as for building from scratch.
