The case in brief
- Client: British national and resident
- Property type: Detached house
- Property value: £2.4 million
- Deposit Amount: £450.000
- Loan Amount: £1.15 million
Arranging a self-build mortgage can be more challenging than a traditional mortgage so sorting the correct advice is critical. Articus Finance is whole of market brokerage and our brokers have extensive professional relationships with the relevant lenders. Contact us to learn more about our self-build mortgage solutions.
The client
Our client approached us with plans to construct their dream family home. They had already acquired permission to build a large property in a rural area in the countryside.
The client aimed to secure self-build finance of £950,000 to fund the construction and purchase of the site. Upon completion, the property’s estimated value was £2.4 million.
Our client had been disappointed by their previous lender and reached Articus for assistance in regaining control of the situation. Working closely with our client, our broker swiftly identified a solution that offered the necessary flexibility at the most competitive pricing to progress their dream project. Get in touch today to find out how our team can help you navigate your financing challenges.
Our solution
A self-build mortgage has similarities to a traditional mortgage and development finance. We secured the first tranche of financing for the clients to purchase the land and begin building the property. With the same lender, we were able to finance the whole build and remortgage the final property (worth £2.4m) onto a more traditional residential product.
Our client was happy with the solution offered, which allowed them to complete their dream home on an interest-only basis while keeping costs low. Using the same lender enabled us to avoid any unnecessary fees or early repayment charges for our client.
At Articus our top priority is to make sure we thoroughly understand the type of build, level of complexity and the associated costs to ensure our clients receive the most competitive terms and maximum flexibility – to achieve their goals and create their dream homes.
Get in touch with us for an initial consultation.