Self build mortgage appropriate or available for my project?

[Jason Bridgway]

Hi guys, 

 

i purchased a property around 4 years ago and have since got planning permission on it. It will be classed as semi commercial, the same as it is now. Due to its location I cannot find a building firm to undertake the major works so I’m having to go about it myself and with help from friends who are in other trades. Because I’m going about the project myself is a self build mortgage something I could think about? The first residential property would become my own. 
 

thanks for any input or advice you could help me out with

[nod]

No

Your better going down the commercial route Via a broker 

[Jason Bridgway]

What do you mean by commercial route? Commercial mortgage? I’m completely new to finance 

[MDoherty]

Commercial, as in a business type loan and not the usual residential mortgage. There are various mortgages available e.g. buy-to-let  so you'll need to do your homework as to which best suits. Word of warning though. This is likely to be more expensive than a "normal" mortgage. After looking at the various options we might just try to obtain personal loans to help finish off the rest of our project.