Skipton joins self-build panel

Skipton Building Society has become the latest lender to join the BuildLoan self-build mortgage lending panel with an exclusive flexible two-year stepped discount mortgage.

The key features of the BuildLoan self build mortgage are:


  • Up to 95% of land purchase, so clients only require a minimal deposit to buy their land.
  • Up to 95% of build costs, which means that most self builders will be able to build their new home without first having to release equity tied up in their current home.
  • Lending of up to 95% of final value.
  • BuildLoan can run alongside the client&#39s current mortgage during the build so clients can stay in their own house while building their new one – saving the cost and upheaval of moving to temporary accommodation or a caravan on site.
  • Flexible benefits including: Interest calculated daily, payment holidays and an overpayment facility, enabling borrowers to repay early and save money.

    Steve Aldous, sales and marketing general manager at Skipton Building Society, says: “Skipton has been successfully working with BuildStore for some time in the provision of self-build mortgages direct to the customer, so is naturally delighted to also become a lender partner on this intermediary focused product, BuildLoan.

    “With the number of new houses being built falling well short of demand, we see self-build mortgages moving into mainstream lending and becoming a market that no intermediary can afford to ignore.”

    Raymond Connor, managing director of BuildStore says: “We are delighted to have a lender of the calibre of Skipton become a BuildLoan lending partner. With the growth we are seeing in self build we believe that this market holds huge potential for intermediaries giving self-build the potential to be the next &#39buy-to-let&#39.”

    Intermediaries enquiring about BuildLoan should call Buildstore on 0870 870 9499 or visit www.buildloan.co.uk