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I'm building my own home, can I get a mortgage on it?

Posted on 3 April 2013 by Richard


I'm building my own home, can I get a mortgage on it?

Hello. I purchased an old semi detached home and have no mortgage. I knocked the property down and have re-built on the same plot. It is almost finished. Is it likely I can get a mortgage on the property once all is signed off? Is it possible prior to sign off? Lastly, with little credit rating and being self employed, I suspect it to be unlikely though am hoping with the property as security, I may have options? Thanks

Richard,

Without knowing what your credit profile is like, what level of income you can demonstrate being self employed, and how much you are looking to borrow, it's difficult to say whether we can get you a mortgage or not.

However, as an Independent, Whole of Market broker that's been going nearly 40 years, there are very few cases that we really can't place.

If you'd like to see what we can / can't do for you, then please let me know and I'll arrange for one of our consultants to contact you.

Regards,

Simon

simon.collins@johncharcol.co.uk

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Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

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