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Raising finance

Loan opportunities for self-builders in the Highland Council region

While you probably won’t want to make a formal mortgage application before you have identified a plot of land and estimated your build costs, it is important to get financial advice at an early stage to be confident that you will be able to get a big enough mortgage. Even if you don’t need a mortgage to help you buy your plot, you should try to be sure that you get a mortgage offer before you commit to buying a plot to avoid any nasty surprises later on.

Self-build mortgage

You will need a specific type of mortgage for self-build because a self-build mortgage is normally paid in instalments at certain stages during the building process and the lender needs to check progress at these stages to make sure it is satisfied that the work has been carried out before the next instalment of the mortgage is paid out. Only some lenders offer self-build mortgages so it may be easiest to find a suitable mortgage by using an independent financial adviser (IFA) or mortgage broker, who will be able to find out what available products may be suitable for you.

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