MatthewB1993

I am in the extremely early stages. I own outright our current house. We know we want to build but wrapping my head round everything is a bit mind boggling - in terms of the steps and the finance options we have available.

Cheers Conor! Did you mortgage the land too or buy it first?

Should note I am in Northern Ireland.

Hiya, Looking some advice on self build mortgages. I currently own my house (no mortgage) worth roughly £150k. I am considering a self build. If (estimated figures) I want to purchase land (£80k) and build a 2500sq ft house (£250k at £100/sq foot) - while living in my current house until the self build is complete before selling. What is the best way to work this finance wise? Is the only way to mortgage the full cost of the self build and then once complete put the sale cost of my current house into the self build mortgage to pay it off a good bit. 2 other quick questions. What is the process of getting finance in the overall scheme of self building. ie. How would I know how much to self build mortgage without getting plans done and constructions companies to tender and submit proposals first? Also, would the land need to be purchased first and not included in a self build mortgage or would a self build mortgage also cover the land. Would appreciate all advice.