Financing a self-build project
Do you dream of starting from scratch, buying a plot of land and building your own home? Or perhaps you’re looking to find a place that needs a complete refurbishment where you can stamp your own mark. At Saffron, we understand dreamers and our Self Build Mortgage is designed for you.
Because it’s likely that your project will take shape over a period of time, we’ll release your funds in stages in line with the progress of the build. An added benefit is that you can choose to repay interest-only until the project is completed.
- Designed for self-build projects or major refurbishments
- Funds released in line with the progress of the project so you’re not paying interest on funds you’re not using
- Option to pay interest-only until project completion
- Expert help from our friendly Mortgage Advisers
Your home may be repossessed if you do not keep up repayments on your mortgage
Our self-build mortgages
Self Build Mortgage [Interest Only]
- Initial rate4.20% Variable
- The overall cost for comparison is4.9% APRC
- Product period24 months
- Max Gross Development Value75%
- Arrangement fee1.00% of the loan
A mortgage of £456,816 payable over 2 years on our current Standard Variable Rate Mortgage of 5.39% to give a current rate payable of 4.20% (variable) would require 24 monthly payments of £1,598.85.
The total amount payable would be £495,453.03 made up of the loan amount plus interest (£38,667.40), an application fee of £135 and a redemption fee of £130.
The overall cost for comparison is 4.9% APRC representative.
Talk to us today
To arrange an appointment with one of our Mortgage Advisers call us free on:0800 072 1100or complete the form below: