The Monmouthshire has been lending to self builders for a number of years and this new partnership with BuildLoan for the broker market will provide a new wave of funding for the growing market.
The BuildLoan product is available for self build, renovation and conversion projects. Lending is available up to 85% of costs, which is released in stages, and paid in advance or in arrears of the construction phases.
Funds are released to purchase land/property from Outline Planning Stage (OPP).
Rachel Pyne, BuildLoan director, said: “I am particularly delighted to bring another Lender to the intermediary sector.
“The team at Monmouthshire are highly experienced in self build and I am sure brokers will be delighted with the service offered by the Society.”
Monmouthshire managing director, Andrew Lewis, added: “We have partnered with Buildloan as we believe we have a pedigree in this market segment.
“Self build borrowers are aspirational and in need of efficient and professional support from their lender, so the tailored approach to customer service, for which The Monmouthshire is renowned, is an excellent fit for brokers in search of a lender they can rely on.”