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Funding a self build

Last post Thu, Apr 19 2012, 9:57 PM by april1967. 2 replies.
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  •  Thu, Apr 19 2012, 9:57 PM

    Re: Funding a self build

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    One option is to borrow the money you need on your residential property. One of the mainstream lenders offers a drawdown facility, which allows you draw additional funds up to a pre-agreed limit. So for example if the limit is £50k and you have only borrowed £10k, then £40k is still available as and when required. Let me know if this doesn't make sense.
    • Post Points: 5

  •  Thu, Apr 19 2012, 8:51 PM

    Re: Funding a self build

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    Depends on whether it is a business or for yourself. If it is for a business, then some form of commercial loan from a bank, may be the way forward. Depends on your relationship with your bank, If it relates to properties you will be living in, then approach an independent mortgage broker to see what options are available.
    • Post Points: 20

  •  Thu, Apr 19 2012, 6:00 PM

    Funding a self build

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    I have heard of a mortgage type loan that you can pay into and draw out of as you wish with fixed payments each month as I am planning to do a few self builds over the next 10-15 years I feel this would suit me best does anyone have any information which may help me.

    Regards
    Adam
    • Post Points: 20