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Help to build vs self build mortgages.. is it worth it?


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I'm new and getting started on researching everything to begin my self build house project. Heard all about the help to build scheme with 5% deposit sounding really appealing and having 3 years to build from when the loan is accepted. I've just been looking at Buildstore and they have cost based mortgages and accelerator mortgages which appear to also take just a 5% deposit and you only pay the interest of what you draw down during the build.

 

So now I'm thinking what is the real benefits then going with the gov scheme, the 20% they pay to the lender you will still have to pay the gov back that amount plus interest. I assume whether you are on the help to build scheme or not that you will be offered whatever the mortgage lender decides  Is it really worth it or is there a catch and better off going through standard self build mortgage to fund it? 

 

Also any advice or thoughts would be really appreciated! :)

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