BuildLoan and Furness launch self build mortgage

Clients undertaking self build, renovation, conversion or home improvement projects can now borrow up to 75% of costs which is released in stages at relevant construction phases.

Raymond Connor, chief executive of BuildLoan, said: “We have been working hard for years to ensure that mortgage intermediaries have access to the best self build and renovation funding solutions for their clients and that they benefit from our unrivalled expertise in this marketplace.

“We are delighted to bolster our offering and pleased to be working with the Furness to launch this product which will help intermediaries serve this important and growing market.”

Furness Building Society chief executive, Nigel Quinton, added: “The self build market has been a successful business channel for the Furness, and we are delighted to be able to extend our offering in this specialist market to mortgage intermediaries.

“The self build market presents a prime opportunity for us as a building society to support local communities – crucially it allows people to create and build the homes they want and need, at an affordable price.”