Hi, we are looking to get a self build mortgage in place and all the usual main stream banks either seem to not do them or only through intermediaries. I've had a look on internet and all that seems to come up are brokers like Buildstore. Is there banks or Building societies that can be dealt with directly or is it a case of go through a third party and pay all the extra fees?

 

We own a plot and have our planning permission in place and we are in Scotland if that makes any difference.

 

Thanks

Very little choice in Scotland.

 

We went with the Scottish Building Society, directly.

 

If your planning a build with a high SAP rating, you might want to also consider Ecology. Good feedback on here from them.

 

I briefly considered buildstore but put off by the endless list of fees.

 

 

 

 

 

 

 

 

 

 

 

 

Home building and renovation magazine have a list every month with all the banks and building societies that lend 

with their terms stage payments conditions etc 

I’m with Ecology / in Scotland.  They’re very good, easy to deal with and very flexible.  Glad I went with them.  You can deal with them directly.  Emails are answered quickly.

The only ones that I could find that you could deal with directly in Scotland were Ecology and Scottish Building Society. SBS were more expensive so we're going with Ecology. 

You need a design that is "capable" of getting an 85 or better on your SAP, which for a new self build should be easy enough.

Buildstore will find you others but they are expensive and their reputation on here is not the best. We went quite far with them but and found them fine to deal with but Ecology turned out cheaper when you account for fees etc.

On 29/12/2019 at 21:51, Adam E said:

Home building and renovation magazine have a list every month with all the banks and building societies that lend 

with their terms stage payments conditions etc 

 

Many thanks, i'l buy a copy and have a look

I'm nearly at this point to start making applications too. Completely turned off by buildstore so far.. as @Thedreamer said.... endless fees...compared to ecology who seem to charge 300 and I hear good things. 

Plus buildstore have been nothing but hassle to get info and prelim numbers from..so if they are bad at the sales stage they will only get worse. 

 

One thing I wasn't aware of was that ecology say they will only do repayment type whereas buildstore said they'll do interest only on the loan. But I've still to investigate further. 

 

I am told Halifax and Newcastle building society will also lend here? (Scotland for me too)