Self-Build and Custom Build

Available to self-builders who want to buy a plot of land to build a new house or refurbish an existing structure for their own occupation.

What is custom build?

Custom build homes are self-built homes that are facilitated by a professional developer. They offer the chance to have a unique property that suits an individual’s lifestyle and preferences but minus the high degree of involvement associated with traditional self-builds. Custom building can describe a single one-off home commissioned by an individual and built by a developer, or a group of homes built by a developer but offering the future occupants the chance to tailor the design.

Product Criteria

• Minimum age 21
• Minimum term 5 Years
• Maximum term 40 Years
• Owner Occupied only
• Minimum loan size: £30,000. Maximum loan size: £1,000,000. Loans over this are supported by our Large Loan products.
• Interest only or repayment
• Interest only subject to meeting lending policy and having an acceptable repayment strategy. If taken for the full term of the mortgage, available to a maximum 70% GDV
• If the mortgage is taken out on a repayment basis, interest only is available for the build period up to a maximum of 24 months. You must explain the consequences of this to your client and evidence this in your suitability letter
• Available for custom-build
• Available for first time buyers
• Loan must be fully serviced by applicants’ income
• Outline planning permission at decision in principle 
• Full planning permission needed before going to valuation
• Full breakdown of works together with costings and architectural drawings required
• Funds can be drawn down in flexible stage payments to suit the clients’ needs (no more than one drawdown per month) subject to re-inspection. Re-inspection fees can be found on our website. The flexible stage payments will be taken in arrears.
• Retained funds must be drawn within the first 24 months or will be removed from the loan
• A new home warranty/certificate is required from one of the following:
  • Compariqo
  • BW Build Warranty Group
  • CADIS
  • NHBC
  • LABC
  • Premier Guarantee
  • ICW Limited 
  • Buildzone 
  • Castle 10/ Checkmate
  • Buildassure
  • One Guarantee
  • Global Home Warranties 
  • Q Assure 
  • Protek 
  • Advantage HCI
  • Ark Residential Insurance

Self-Build Large Loan

We have enhanced our offering with a Self-Build Large Loan range, available to self-builders who require a larger loan size of up to £4,000,000 to fund their project. Anything above this figure will be assessed on a case-by-case basis and bespoked. LTVs, fees and terms all match our standard self build products, in addition to the criteria below.

Product Specific Criteria 

• When providing a full breakdown of works together with costings and architectural drawings, a minimum contingency of 5% must be shown within the costings
• We reserve the right to instruct that a Quantity Surveyor be appointed. The customer would be responsible for appointing the Quantity Surveyor, covering all the costs involved and would also be required to provide the Society with copies of the interim reports from the Quantity Surveyor at each drawdown request
• A progress report and/or quantity surveyor report will be required at each drawdown before funds will be released 
• We reserve the right, over the life of the project, to appoint an industry professional, at the customer’s cost, to manage and oversee the completion of the project