Shopping Cart -

Your cart is currently empty.
Continue Shopping
This website use cookies and similar technologies to improve the site and to provide customised content and advertising. By using this site, you agree to this use. To learn more, including how to change your cookie settings, please view our Cookie Policy
Pocketmags Digital Magazines
AU
Pocketmags Digital Magazines
   You are currently viewing the Australia version of the site.
Would you like to switch to your local site?
Digital Subscriptions > Build It > December 2018 > Self build mortgages

Self build mortgages

Looking for funding for your self build project? Each month we round up the best deals from leading lenders – and update you on what you need to know about securing the right finance
Rachel Pyne BuildStore

What to consider when applying for a self build mortgage

Applying for a mortgage is more complicated than ever, with new affordability rules to understand as well as a variety of changing criteria to keep up with.

With a self build or renovation project this can become even more challenging, as there is so much more to consider when arranging your finance. For instance, where do you intend to live whilst your new house is being built and how will the cost of these arrangements Applying for a mortgage is more complicated than ever, with new affordability rules to understand as well as a variety of changing criteria to keep up with.

With a self build or renovation project this can become even more challenging, as there is so much more to consider when arranging your finance. For instance, where do you intend to live whilst your new house is being built and how will the cost of these arrangements (ie mortgage or rent payments) affect the amount you are able borrow to construct the new property?

Most lenders now take these costs into account when assessing your project profile and what level of funding you can afford to service. This will be the case even if the costs are only short term – so it makes sense to find out early on exactly what your borrowing options are, as different lenders will apply different rules.

READ MORE
Purchase options below
Find the complete article and many more in this issue of Build It - December 2018
If you own the issue, Login to read the full article now.
Single Issue - December 2018
$5.99
Or 599 points
Annual Digital Subscription
Only $ 3.33 per issue
SAVE
44%
$39.99
Or 3999 points

View Issues

About Build It

Build It is Britain’s longest running self build magazine. Each issue is packed full of inspirational and informative readers’ homes, as well as expert advice on issues from budgets and planning to project management and design. This month: - Build It's Self Build Education House - Cladding a timber frame home - Renovating a bungalow - Myth buster: Renewable Tech