Q. Can I borrow money from a bank to build my own home?
A. Yes! A self-build mortgage is the answer.

A self-build mortgage is a loan designed for people who want to build their own home. It’s a way to get money from a bank or lender to help you pay for the land, materials, and other costs involved in constructing your dream house����.

Unlike a regular mortgage, which gives you a lump sum to buy an existing home, a self-build mortgage releases money ��in stages as your construction project progresses. This helps to ensure you have enough funds available at each step of the building process, from buying the land to completing the construction.

10 key points:

��️Stage payments: Self-build mortgages release funds in stages as the construction progresses. This can be done in arrears (after each stage is completed) or in advance (before each stage begins). Arrears stage payments are more common, but advance stage payments can be beneficial for those with limited cash flow during the build.

����‍♀️Planning permission and building regulations: You must have planning permission for your self-build project and comply with UK building regulations. Lenders usually require evidence of these approvals before releasing funds.

��️Loan-to-value (LTV): Expect to secure a lower LTV ratio than with a traditional mortgage. You’ll likely need a larger deposit (approx. 25-40% of the total project cost) to secure the mortgage.

����‍♀️Valuations and inspections: Lenders require regular valuations and inspections of the construction site to monitor progress and ensure the project is on track. These checks help determine when stage payments should be released.

��️Specialist lenders and brokers: Self-build mortgages are a niche product. Speak to a mortgage broker, like largemortgageloans.com, who is experienced in self-build mortgages to find the right loan for your project.

��Interest rates: these may be higher than traditional mortgages due to the increased risk associated with construction projects.

����‍♀️Completion deadlines: Lenders may set a deadline for the completion of your self-build project. Failing to meet this could result in penalties.

��️Mortgage conversion: Once your property is complete, you may be able to convert your self-build mortgage to a traditional repayment mortgage with more favourable interest rates.

����‍♀️Self-build insurance: Consider self-build insurance during the construction process, as standard home insurance policies won’t cover the risks associated with building your own home.

��️Warranty: After completion, obtain a warranty, such as the National House Building Council (NHBC) Buildmark warranty, to protect against defects in construction and offer peace of mind to both you and the lender.

Thinking of building your own home? Give us a call ☎️or drop us a message�� to discuss your finance options.

https://www.largemortgageloans.com/mortgage-guides/what-is-a-self-build-mortgage/

#selfbuild #mortgage #loan #mortgagebroker #specialistlending #largemortgageloans

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��️#comment
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First Time Home Buyers are finally getting some relief as inventory continues to rebound from historic lows. There are 6 cities with HUGE opportunities for home buyers right now given the shift in inventory. In this video Nicole covers 6 markets where you will find more homes to choose from, less competition and overall experience more negotiation power as a buyer.

Home Buyer Tools:
✅Get connected with an AGENT in your city → https://homeandmoney.com/nicole/
✅Book Your FREE Pre-Approval Call → https://homewayar.com/loan

Work with Nicole in Arkansas:
�� View AR Homes For Sale → https://listings.narkhomes.com/i/arkansas-homes-for-sale
�� Contact Nicole → https://narkhomes.com/contact/

Other stuff that’s cool:
�� Support My Small Business → https://www.amazon.com/kvnbrands
�� Shop My Camera Gear → https://bit.ly/NicoleGear
(As an Amazon Associate I earn from qualifying purchases)

Social Media Links:
�� Instagram → https://www.instagram.com/nicolenark/
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�� Facebook → https://www.facebook.com/NicoleNarkRealtor/

Chapters:
00:00 – Intro
00:43 – Austin, TX
01:15 – Raleigh, NC
01:52 – Nashville, TN
02:08 – Tampa, FL
02:59 – Phoenix, AZ
05:00 – Dallas, TX
06:11 – Conclusion

— DISCLAIMER —
Nicole Nark (NMLS 2476462) is licensed in all 50 states with the Dan Frio Team at Allied First Bank (NMLS 203463), an Equal Housing Lender. Separately, Nicole is a licensed Realtor and the Principal Broker of HomeWay Realty. HomeWay Realty is not a lender, does not issue loan qualifications, and does not extend credit of any kind. The topics discussed, and ideas presented are Nicole Nark’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence. This video is not an offer to lend and should not be used directly to make decisions on home offers, purchasing decisions, or loan selections. Not guaranteed to provide accurate results, imply lending terms, qualification amounts, or real estate advice. Seek counsel from a licensed real estate agent, loan originator, financial planner, accountant, and/or attorney for real estate, legal, and/or financial advice. Allied First Bank is not affiliated with the VA, FHA, or any other government agency. This video has not been approved by any government agency.

Rocket Mortgage, “Certain Is Better”

Scott Beard (Strategy, 2015)
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Chicago, Illinois

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These types of mortgages offer businesses the opportunity to obtain long-term financing for various projects, whether it be expanding their existing space, renovating a property, or purchasing a new one altogether. The benefits of a commercial mortgage include access to large amounts of capital, tax benefits, longer loan terms, and the potential to increase property value over time.

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