For most people getting their finances in order is an important starting point for their self build project. If you need to borrow money then finding the right mortgage for your build project is crucial to ensuring the success of the project.
A mortgage for a self build differs from a mortgage you would use to buy a house because with a self build mortgage the money is released in stages as the build progresses. There are however different ways in which this money can be released and the advice we will give you will depend on your own particular circumstances. This is why it is important to discuss your options as early in your project as possible with one of our qualified Mortgage Advisors here at Watts.
Every self build project has identifiable stages from the initial digging of the foundations to the final fix and at each stage the value of the build increases. The following chart shows the typical stages in a traditional brick & block construction.
Brick & Block
Purchase of land
Preliminary costs & foundations
Wall plate level
Wind & watertight
First fix & plastering
Second fix to completion
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
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Scott Harding, Deputy Managing Partner, Poole Alcock LLP
I recently contacted Barry to organise life insurance at the end of term of my previous policy. Barry organised the policy at short notice, pricing was very competitive and the service provided was excellent. I would recommend Watts without hesitation.
Buying a house is one of the most important and probably the largest investment you may make.
Watts have a comprehensive range of mortgages from across the market and look to get you a great deal when you are looking to move home.
We can search the WHOLE UK MARKET to get quotes from High Street lenders such as Santander, The Woolwich, Nationwide, NatWest and more.
Secured loans or second mortgages can be an alternative to re-mortgaging.
For most people getting their finances in order is an important starting point for their self build project.
Where appropriate we can refer you to our sister company, Watts Commercial Finance Ltd. which provides advice on Commercial lending.
For some people, one of the most profitable long-term investments might be purchasing property.
Whether that is some general modernisation or some essential repairs that you need to get done, we have a solution for you.
A regulated bridging loan is a form of short term funding secured by a charge on a borrower’s residential property until next stage financing is secured.
Your initial mortgage consultation is obligation free. There will be a fee for mortgage advice of £695 of which £95 is payable when you apply, and we retain the commission from the mortgage lender. The precise amount will depend on your circumstances and mortgage loan amount, and will be discussed and agreed before you make a mortgage application.
Watts Mortgage & Wealth Management Ltd is directly authorised and regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No 624815 at www.fsa.gov.uk/register/home.do
More information is available on mortgages from the Money Advice Service. www.moneyadviceservice.org.uk
Where you have a complaint or dispute with us and we are unable to resolve it to your satisfaction then we are obliged to offer you access to the Financial Ombudsman Service. Please see the following link for further details www.financial-ombudsman.org.uk
Your property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
The FCA does not regulate some forms of mortgages. The FCA does not regulate taxation advice, trust advice and some forms of buy to let mortgages.