We’re thinking through various options to fund our self build next year….
Just wondering what others have done and what would you do differently re funding - self build mortgage, bridging loan, remortgage???
Our circumstances are….
A plot we own outright with a property on which will be demolished
Current home has a mortgage of £40k with 10yrs left
Current home value of approx £250k
Savings £50k
Current home will be sold to ‘pay’ for the self build
Budget for self build £250-300k
Time scale for self build completion 3-5mths
Not wanting to rent as mortgage payments are low
Not wanting to live on site as we live close to the plot.
