Mortgages for self-build and unique properties

Everyone dreams of having their perfect home, designed and built to their exact specifications. The concept of a self-build property allows individuals to turn this dream into a reality.

However, embarking on such a build your own home project can be financially complex and challenging. This is where a specialist broker like Greenacre Financial Services steps in, offering invaluable guidance and expertise throughout the entire self-build mortgage process.

In this blog, we will explore the world of self-build mortgages, the different types, specialist lenders, planning permissions, building costs, and the role of mortgage brokers in making your dream home a reality.

Understanding Self-Build Mortgages

A self-build mortgage is a specialized type of mortgage designed for individuals looking to construct their own home from scratch, rather than purchasing an existing property. These mortgages differ from standard residential mortgages as the lender releases funds in stages throughout the build project, rather than in one lump sum. This gradual release of funds ensures that the project can progress efficiently and minimises the financial burden on the borrower.

Different Types of Self-Build Mortgages

There are various types of self-build mortgages, each catering to different stages of the building process. The two main categories are:

  • Arrears Stage Payment Mortgages: With this type of mortgage, funds are released after each stage of the build has been completed. The borrower must provide evidence that the stage has been finished before receiving the next payment. This option is ideal for those who have substantial savings to finance the initial stages of the project.
  • Advance Stage Payment Mortgages: In this scenario, funds are released at the beginning of each stage, which means the borrower must have funds upfront to cover the initial costs. These mortgages are suitable for those with limited savings but the means to cover early expenses.

Early Repayment and Repayments on Your Mortgage

Some self-build mortgage deals may allow for early repayment options, which can be beneficial if you plan to sell your property once it is completed. Early repayment options may come with certain conditions and charges, so it’s essential to thoroughly review the terms and conditions of the mortgage before committing.

Regarding repayments on your mortgage, it’s crucial to consider your financial capacity throughout the building process. During the construction phase, interest-only repayments may be more manageable. Once your dream home is complete, the mortgage will switch to a standard repayment plan, ensuring the loan is fully paid off over time.

Specialist Lenders for Self-Build Mortgages

Not all lenders offer self-build mortgages, but there are specialist self-build mortgage lenders who focus on this niche. These lenders have a deep understanding of the complexities involved in self-build projects, making them more equipped to cater to your unique needs. A self-build mortgage broker, such as Greenacre Financial Services, has access to a network of specialist lenders, increasing your chances of finding a suitable and competitive deal.

Navigating Planning Permissions and Building Costs

Before commencing your self-build project, as well as the obvious land purchase, it’s essential to secure the necessary planning permissions. A self-build mortgage broker can guide you through this process, ensuring you have all the required documentation in place before applying for a mortgage.

Additionally, accurately estimating building costs is crucial to secure the right amount of funds. A self-build mortgage broker can assist in assessing the overall cost of the project, helping you determine how much you’ll need to borrow.

Mortgages for Unique Properties

In addition to self-build projects, some individuals may be drawn to the allure of owning a truly unique property, such as historic buildings, converted barns, or eco-friendly homes. These properties often present an unconventional charm but may not fit the criteria of traditional mortgage lenders. Thankfully, specialised mortgage brokers like Greenacre Financial Services have experience in securing mortgages for these distinctive properties.

When it comes to unique properties, there are several factors to consider, including valuation, surveying, and the property’s history. Traditional lenders may be hesitant to provide mortgages for these properties due to the higher risk associated with their uniqueness.

However, we have access to a network of lenders who are more open to financing such properties. We can navigate the complexities of obtaining a mortgage for unique properties, ensuring you receive the financial support and mortgage advice you need to make your dream of owning an extraordinary home a reality.

Whether you’re envisioning a quirky conversion or a property with historical significance, a mortgage broker can guide you through the process, offering tailored advice to meet your unique requirements. With our expertise, you can confidently explore financing options, understand the specific terms and conditions of the mortgage, and finally unlock the door to your one-of-a-kind dream home.

The Role of Mortgage Brokers in Self-Build Projects

Navigating the world of self-build mortgages can be daunting, but a knowledgeable mortgage broker like Greenacre Financial Services can ease the process significantly. A self-build mortgage broker like Greenacre Financial Services, as specialist mortgage advisors, has the expertise to:

  • Evaluate your financial situation and recommend suitable self-build mortgage options.
  • Connect you with specialist lenders who understand the unique nature of self-build projects.
  • Provide guidance on the documentation required for planning permissions and mortgage applications.
  • Offer advice on early repayment options and other aspects of self-build mortgages.

For more information about any of our services, get in touch by calling us on 0203 3939 222 or email

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Hannah D
Hannah D
07:42 09 Sep 19
I would fully recommend Greg and Greenacre Financial Services. As a first time buyer I was daunted by the process of... finding the right mortgage for me however Greg made the process really simple, clear and quick. He was always available to answer any questions and happy to explain everything. I wouldn’t hesitate in recommending Greenacre FS to my friends and more
Jessica Cohen
Jessica Cohen
19:33 26 Aug 19
We first met with Greg in May for advice as we had adverse credit and irregular pay and didn't think a mortgage was in... our reach. Less than two weeks later Greg had fully arranged a great deal for us on our first mortgage. He was available whenever we needed him, 7 days a week and in the evenings. We cannot thank Greg enough for helping us buy our first home!read more
Seren Fletcher
Seren Fletcher
08:56 24 Aug 19
Would highly recommend Greg and Greenacre Financial Services. Was extremely professional and helpful. Our mortgage... wasn’t straight forward due to my husband being self employed but Greg was very knowledgable and managed to find us a really good mortgage. Looking forward to working with him again in the futureread more
13:24 23 Aug 19
Graham at Greenacre was excellent in helping me get a mortgage for my house purchase. He was always available when... needed, provided an efficient service and was very knowledgeable. Highly recommended!read more
Ian Hatter
Ian Hatter
11:07 16 Aug 19
What can I say, Greg has been absolutely amazing in sorting out a mortgage for me I never thought was possible. It has... meant I have been able to buy a house, a few months ago, I would never have dreamed of being able to buy after talking to high street lenders. He worked exceptionally hard and always kept me updated with every step of the process. Buying a house is extremely stressful, but Greg took all that stress away from me. I cannot recommend Greg enough to anyone looking to buy a property. Thank you so much for your help Greg, it's greatly more
Sean Kelly
Sean Kelly
15:27 30 Jul 19
10/10 EXCEPTIONAL service and result. Highly recommend. Greg and the Greenacre Financial Services team were fast,... knowledgeable, and honest. All the qualities you want and need. Very pleased I was recommended to Greenacre. Customer for life!read more
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