selfbuilder91 Posted April 18, 2024 Posted April 18, 2024 I am wondering about the order of things when getting a self-build mortgage which will be used to cover the cost of the land as well as the build. From what I've read, these would normally be a part of the same mortgage, but I also gather that you need full cost estimates and drawings etc. for the mortgage application, but I presume you need to have the land before you can get an architect etc. involved to do the cost estimates and drawings etc.. so I am quite confused as to where one would start. In what order do these thing normally happen?
nod Posted April 18, 2024 Posted April 18, 2024 It’s a long time since I’ve had a mortgage But most on hear tend to buy the land Then raise a mortgage for the build As you rightly point out Most lenders will want details of your build in order to lend It would be a massive risk for lenders to bankroll the whole project
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now