Self build mortgage.

[Mike_scotland]

Hi guys,

 

Has anyone used build loan? 

 

If so how are they to deal with good or bad? 

 

I have heard build loan is same as buildstore does anyone know the difference?

 

Thanks in advance.

 

Mike

[LA3222]

I've heard more bad than good about them...a lot more to the point I didnt even bother speaking to them.

 

I heard nothing but good things about Ecology and as it stands they were the only ones I approached. Remarkably easy to deal with, all done via email and a couple of Skype calls.

 

There's a few options out there but for me, I can thoroughly recommend Ecology.

[SuperJohnG]

I just received mortgage offer today from ecology...so far so good. 

 

As per above. Build loan are part of buildstore....they are part of the buildstore process that will force you to pay 600 quid for a budget and cash flow...which is ridiculous. 

 

Fees for buildstore are at least 1500-2k mich more if you need an advance type mortgage. 

 

Ecology...300 quid. Plus 450 for valuations. Super easy so far. Recommended.  

[Thedreamer]

Buildstore/Buildloan these are just brokers.

 

When I had an initial chat with build store I had to run and get a jotter pad to list all of the fees payable.

 

Try where possible to go direct to a lender. 

[Mike_scotland]

7 hours ago, Thedreamer said:

Buildstore/Buildloan these are just brokers.

 

When I had an initial chat with build store I had to run and get a jotter pad to list all of the fees payable.

 

Try where possible to go direct to a lender. 

Yeah our circumstances are quite unique I had a mortgage advisor go put feelers out and darlington have came back and said they would accept our circumstances. However you must go through buildstore/buildloan to access them they have said.

 

But yeah I have heard there alot of fees.

[Bozza]

So I used both.  Build store to purchase a second property without PP, by taking a mortgage out on my current home, interest only, via Santander.  Santander wouldn’t allow me to do that directly, I tried, somehow via Buildstore they were able to.

then Ecology direct to get the self build mortgage.  
Build store were able to access products that I couldn’t myself, so it was worth it, even though as stated there were fees.  If you can’t access product directly for some reason Buildstore May be able to.  At a cost.

[Mike_scotland]

57 minutes ago, Bozza said:

So I used both.  Build store to purchase a second property without PP, by taking a mortgage out on my current home, interest only, via Santander.  Santander wouldn’t allow me to do that directly, I tried, somehow via Buildstore they were able to.

then Ecology direct to get the self build mortgage.  
Build store were able to access products that I couldn’t myself, so it was worth it, even though as stated there were fees.  If you can’t access product directly for some reason Buildstore May be able to.  At a cost.

How where they to deal with? 

 

What sort of fees if you dont mind me asking 

[Bozza]

1 hour ago, Mike_scotland said:

How where they to deal with? 

 

What sort of fees if you dont mind me asking 

Buildstore - great TBH no problems at all.  Their arrangement fee was £395.  Plus the Santander fees whatever they were.  Like I say worthwhile as I had approached Santander myself but their staff were used to standard mortgage enquiries/arrangements.  I presume Buildstore had a hotline to the relevant depts of the bank to access a product that met my needs.

 

Ecology - great.  Personal service/friendly/flexible.

 

 

 

 

 

 

 

 

 

 

[Mike_scotland]

Thanks bozza.

[Taff]

Ecology all day long. Flawless and reasonable prices. Did everything over the phone once our docs were complete.

[Mike_scotland]

I have specific circumstances.... I dont think ecology will accept my build.