Most self builders will need to look into financing options for their project. Self and custom build mortgages are a popular choice and are tailored to the specific needs of a self build project. The money from this type of mortgage is released in agreed stages throughout the project. This allows you to purchase materials and pay contractors as the project progresses, so you don’t need to worry about covering any costs upfront. Other options for financing include using your own savings, and remortgaging or selling your existing home to fund the build.
The Government is keen to encourage the growing appetite for self building in the UK. There are now a number of different schemes that can provide support and help to boost your budget, including the new Help to Build scheme.
Guide to Managing Money course covers all of the schemes available, as well as looking at how to raise finance and budget successfully.
