Associated costs of self-build mortgage.

[flanagaj]

I am literally just starting to research finding a lender and I have no idea how much money just getting self-build finance is going to cost me.  Does anyone have any figures as to what I will need to pay out.  Looking to borrow 250k.  Land is purchased outright and I just need funds for the actual build.

[Conor]

Between broker and Legal fees, £1500 - £2000

[Ed_]

My broker fees were £1300. I would recommend going direct to be honest, I probably should have done but i'd asked them a fair few questions and their support had given me the confidence to go ahead so I felt bound in the end, but apart from saving me the time of searching the market of obscure building societies offering self build I don't think they have saved me any time on the application or got me anything I couldn't have got myself.

Then from the mortgage provider application fee was £1350.

Then the conveyancing will be about £1000 - yep, you have to do that again. If you bought in the last 6 months you may be able to re-use searches, if not you pay again. Just in case someone has built a coal mine in the interim.

I imagine your costs will be lower as you are borrowing half me, but probably not massively so.

[Redbeard]

Have you tried Ecology?

[PSC88]

Don’t forget the additional costs self build warranty, insurance….building control costs 

 

before you can break ground 

[flanagaj]

We received our mortgage offer today from Hanley BS.  One of the conditions that is stated on the mortgage offer is as follows.

Subject to your Solicitors confirming which of the following will carry out Building Control:
a) Local Authority

b) Approved Inspector (full details required)

The use of Approved Inspectors to carry out Building Control is allowed subject to them being registered as approved on the GOV.UK site

We will be using Protek for our structural warranty provider, but I don't understand the question.  I thought Building Control was always carried out by the LABC team and the inspections carried out by Protek are completely separate and solely to satisfy the warranty provider?

 

[MortarThePoint]

Building control can be carried out by private companies too which has injected a bit of 'customer service' into both the private and LABC

[flanagaj]

4 minutes ago, MortarThePoint said:

Building control can be carried out by private companies too which has injected a bit of 'customer service' into both the private and LABC

But what do most self-builders do?

[MortarThePoint]

1 hour ago, flanagaj said:

But what do most self-builders do?

Mixture I think. I've been happy with my independent one. Strict but very helpful 

Edited 15 hours ago by MortarThePoint