BuildLoan has partnered with Buckinghamshire Building Society to launch a new custom and self-build mortgage product.
The product offers stage payments of up to 85% of build costs on completion of each stage of work, with releases linked to build costs rather than a site valuation – removing the risk of the client not receiving the funds they are expecting.
BuildLoan confirmed that the arrears stage payment product offers a discount of 0.95% from Buckinghamshire’s standard variable rate for two years, giving an initial pay rate of 3.79% with a £1,499 completion fee.
“This product enables clients to get agreement up-front regarding the amount of funds that will be released at each stage of their project,” BuildLoan head of product development and underwriting, Chris Martin, commented.
“This gives them a huge amount of peace of mind that the funds they receive aren’t put at risk by a down valuation during the build. This is a really important benefit to self-builders to ensure their project progresses as they expect.”
Buckinghamshire key account manager, Claire Askham, added: “We are committed to supporting the ever-changing self-build sector through our range of mortgage products offered exclusively via BuildLoan.
“We believe this arrears product shows our commitment to support the self-build market and enhances the relationship we have with BuildLoan.”
Latest News
-
House price growth slows to 3% – ONS
-
Inflation remains unchanged at 3.8% in September
-
£8.8bn worth of BTL loans advanced in Q2
-
Quilter reports third successive quarter of £2bn+ inflows
-
IHT receipts total £4.39bn in six months to September
-
Younger advisers more likely to work with new clients, study finds
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories