Scottish self build mortgages

[Thedreamer]

Hi,

 

I'm currently at the stage of arranging mortgage finance. I've had a chat with an advisor at BuildStore who suggested a mortgage with the Newcastle Building Society. Today I also spoke with an advisor from the Scottish Building Society. 

 

Anybody have any experience with either of these two?

 

I'm self building in Skye, so I'm leaning to the Scottish Building Society, as they seem to have more experience in dealing with decrofted sites etc and I don't have to go through an intermediary like buildstore.

 

Very few lenders appear to offer mortgages to Scottish Self Builders and even less to the 'Isles' (despite Skye having a road link). Other lenders open to me appear to be:

 

Halifax - through an intermediary (I heard that a large exit charge exists when switching the product at the end)

 

Ecology - seems to be a good organisation to deal with, but my product is going to be up to Scottish Building Regs rather than passive house rating. I had an initial telephone call with them and I was hoping they would factor in our environmental friendly lifestyle as well as the property, but sadly just based on SAP rating.  I would love to spend money on environmentally friendly features in the house but I just don't have the funds for this as I'm in my early thirties with a young family.   

 

Scottish Government revolving credit fund managed by Highland Rural Community Trust - my only concern with this fund is that you have to find a lender quickly after the fund finishes or you get charged 9% interest. Some lenders appear to not provide traditional mortgages on properties less than two year's old. 

 

Thanks

 

Kerry

[Ferdinand]

Welcome, but probably one of our Skye or H+I self-builders will be best placed to answer this questions.

[Triassic]

14 hours ago, Thedreamer said:

 

 

I'm self building in Skye, so I'm leaning to the Scottish Building Society, as they seem to have more experience in dealing with decrofted sites etc and I don't have to go through an intermediary like buildstore.

 

From what I've read, this has to be a positive!