Self Build Mortgage 100% build cost borrowing;

by , 3 Feb 2011

Could I borrow 100% of build costs. Most mortgage companies only offer a maximum loan to value ratio of 75%, however the build costs should only be 60% of the overall value of the property once completed. To enable me to start & finish the project I would have to borrow 100% of the build cost. How does the mortgage lender view this??


add your answer here

A lot depends on how you own the land. If you already own the land outright then it's possible you may get a good deal but if you have a mortgage on the land then it would be much more difficult. If you are hoping to borrow 100% for the land and the build then I have to say you have absolutely no chance.

by roseangel, 3 Feb 2011

Posts within the community represent the views, experiences and opinions of members and experts only. They should not be taken as financial advice and should not be followed without further research.

Get our free money saving newsletter
Join over 450,000 other subscribers who grab our expert money tips, unmissable money guides & hottest bargains each week in our special email...