Pink builds new relationship

BuildStore, a provider of mortgage products and related services to the self-build and renovation market, is the latest addition to Pink Home Loans’ extensive range of facilities. Its’ addition means that BuildLoan, a mortgage product designed for the self-build sector, is now available through Pink Home Loans. BuildLoan is the only self-build mortgage available to intermediaries that releases money at the start of each stage of the build. Clients can borrow up to 95% of the cost of the land or the property they want to renovate and 95% of the cost of the building work.

Tony Jones, managing director at Pink Home Loans, commented: “Pink Home Loans is delighted to be linking up with BuildStore. Self-build is a growing area of the mortgage market with 20,000 people now building or renovating their own home each year and 25% of all new detached homes being self-built. This niche area offers many opportunities to the intermediary market and Pink is keen to assist brokers by offering a self-build mortgage from a market-leader.”

Raymond Connor, managing director of BuildStore commented: “Since its launch in January, BuildLoan has proved very popular with the intermediary market and we are delighted that Pink Home Loans has decided to promote BuildLoan, helping us reach a wider audience.”

The procuration fee available on BuildLoan is 0.25% with a minimum of £250 and a maximum of £650. Members of Pink Home Loans can access BuildStore’s product range through direct access to the lender via the Pink Mortgage Club or Pink Premier.