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Mortgages - Self build, what are the stages? - 23/04/2008

  
 
 
When opting for a self build it is vital you take stock of all that it involves and not simply be wooed by the way in which the dosh is dished. Most people are attracted to the way most lenders approach self build and renovation mortgages. Knowing that the money is coming in instalments is a source of comfort for many who are weary of having all their money swallowed by a rogue tradesman despite their creative credentials.

The first stage is taking in all the information you can muster about the project, the specific details as to how much the land or property in question will cost. In addition you will need official estimates related to the costs of the building or renovation work.

Once you have sourced this information it is time to access your builder who needs to be registered with the NHBC or Zurich municipal New-build. Without these credentials your entire build needs to be supervised by an architect who must prove his professional qualification.

Incredibly important is your planning permission and your approved building regulation documents. As well as these you need to have the ‘In Course of Construction Insurance’ policy you plan to use during the build and finally like any other mortgage you need to provide proof of your personal financial status, whether it's a copy of your savings balance book or your passbook which will be necessary to complete the project.


 
     
 
 
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