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| Photo: Roger Bamber/Alamy published in The Guardian |
According to Buildstore, the amount you can borrow to purchase the land will be 75 per cent of its current value, and for the build costs, again you can borrow around 75 per cent of the end value.
A lender will want to see detailed plans for the property, a projection of costs and planning permission details, and the whole application process can take five months on average!
Lenders usually release the money for a self-build in five to seven stages, taking a project from foundations to the finished property. They may want to inspect each stage before signing off on the next slice of money.
According to an article in The Guardian way back in 2011, the UK Government is keen to make financing self-build projects easier to obtain, and from a more competitive selection of lenders.
According to an article in The Guardian way back in 2011, the UK Government is keen to make financing self-build projects easier to obtain, and from a more competitive selection of lenders.
nice post. thanks for posting such a great informative post. lot of new thing i have been learn t from this post.Commercial Mortgage of principal investments proposal provides the funds for someone who really feels to build the houses of their own. We helps in such a way for the people who are intend to remain in the property to sell.once again thanks for sharing such a great info.keep it up.
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