Selfbuild brokers

[Adamantium]

Can anyone recommend a self build mortgage broker other than the usual suspect.

 

I'm considering a halifax mortgage but they don't sell direct and they won't provide the name of a broker.

 

Thanks in advance.

[Jeremy Harris]

The Ecology BS are extremely good to work with, but you have to meet their requirements.  I found them absolutely superb in every respect, and their interest rates are reasonably if you are building a house that complies with their terms (we were).  The best thing about them is that you deal with a real human being, the same one through the whole process, and they are fairly flexible in terms of looking at every application on its merits.

 

Buildstore are a complete bloody nightmare, no way would I even entertain ever using them.  We used them for insurance, and that was both ludicrously expensive and tied us in to a deal where the renewal premium when our build over-ran was just crazy, around 150% more than the initial premium, and they try to lock you out of getting a quote from any other broker.  The words long, barge and pole come to mind when describing them.  Nothing would ever induce me to deal with them again, or suggest anyone else does.

[Trw144]

Plus one to Ecology BS. Great to work with and really helpful - they phoned me last week to say I was due a rate reduction for meeting the energy performance target on the house. I m not sure what their current qualifying conditions are as they had raised them to accepting Passivhaus standard as a means of balancing supply and demand.

[Ferdinand]

If you look on eg Money Super Market Self Build or similar, there seem to be a surprising number of banks and Building Societies that deal direct. Worth a look?

 

As for a broker, I would suggest asking the most experienced and qualified (MRICS?) staff member at your local independent self-owned estate agent for 3 recommendations, which was how I found mine a few years ago. You will pay about £500-£700 for going via a broker (subject to London Area higher prices).

 

Based on your other conversations, I would suggest cultivating that relationship over time. If your project goes ahead you will be sitting facing your good architect and your main contractor dealing with a nearly £1m project, and a half-created relationship with a local expert from outside your project bubble who knows your Council and their policies and staff inside out will be an invaluable standby. If you only have a bit of work from them ("please spend a couple of hours looking at my plans before I commit" or similar at a key point where you have been asked for feedback) for a couple of hundred on a couple of occasions, a good tip or leading question could save you thousands or tens of thousands. IMO one hole in your setup may be a knowledgeable local informal 'mentor'.

 

Ferdinand

 

Edited April 26, 2017 by Ferdinand

[Adamantium]

Thanks for the help.

 

I've found a great broker who has been amazing so far.

 

I assumed that I'd need a mortgage broker who specialises in self builds but that doesn't appear to be the case.

 

If anyone wants a recommendation, feel free to pm me.

 

Adam

[jayroc2k]

On 12/05/2017 at 15:34, Adamantium said:

Thanks for the help.

 

I've found a great broker who has been amazing so far.

 

I assumed that I'd need a mortgage broker who specialises in self builds but that doesn't appear to be the case.

 

If anyone wants a recommendation, feel free to pm me.

 

Adam

Using Halifax?

 

All banks accept brokers on their panel regardless of lending type, main issue is a normal broker in my experience finds self build too involved and too much work for the fees earned (BTL and residential are just so much easier for the same and pay the same fees)

[Adamantium]

Found a great broker if anyone wants a recommendation!