Here at Furness for Intermediaries, our self-build intermediary mortgage products are available exclusively through BuildLoan. Our long-standing partnership with BuildLoan enables us to utilise specialist expertise to better serve our intermediaries and their self-building clients. As a result, we’re able to offer a variety of mortgage solutions - including Advanced and Arrears Stage Payment mortgages - to mortgage brokers, on behalf of customers who are either building their own home or converting/renovating an existing property.

Your client doesn’t need to own the land before applying for a self-build mortgage. BuildLoan can provide funding to purchase the land in addition to the build costs. However, they must progress to the build stage and not just buy the land and leave it vacant.

It’s important to remember when your client purchases land, they must ensure it has Outline Planning Permission (OPP). They’ll also need detailed plans for their proposed construction, as this is essential for calculating the overall project cost and end value. This not only ensures the project meets lending criteria and affordability standards but enables you to calculate how much they need to borrow for the project. We’d also advise submitting a Decision in Principle earlier in the process.

When your client is constructing a brand-new home, BuildLoan will release the funds in up to six stages. These stages include land purchase, footing and foundations, construction of the walls (wall plate level), wind and watertight, first fix, and second fix/completion.

You can view and compare all our current self-build mortgages for intermediaries through our self-build mortgage finder.

If you have any further questions or would like more information about BuildLoan, take a look at their FAQs online. Alternatively, get in touch with our Business Development Managers who would be happy to help.