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Mortgages:
There are a number of providers
of mortgages for self builders or those renovating a wreck -we
have listed a few below. One issue is that there are usually
limits to how much can be lent -perhaps 75% of the value of the
property, so you are lilely to need additional funds or a top
up loan. You should also allow for a contingency of perhaps 10-15%
for overspend and unexpected costs.
The Norwich
and Peterborough has been running a 'green mortgage' since
1998 and aims to be the first building society that is carbon
neutral -other ethical providers include the Ecology
Building Society or Co-Operative
Bank.
To secure a self build mortgage,
you will almost certainly have to provide additional information
to support your case -typically this would include the Planning
Consent, detailed Architects plans and specifications, detailed
costings (including allowance for inflation and unforeseen expenses),
your programme for construction and details of proposed guarantee
or Architects' Certificate -see insurance
for more on this.
On the tax front there is better
news -it is possible to claim back the vat on a new or refurbishment
self build project (Inland Revenue publish a guidance
note on this), and it is also exempt from Capital gains Tax
when the building is sold.
Ethical
Mortgages:
- Co-Operative Bank (Ecology Unit) -aims to support ecological projects
and develop partnerships with businesses and organisations whose
direct and indirect outputs contribute to a sustainable society.
- Ecology
Building Society -a
mutual building society dedicated to improving the environment
by promoting sustainable housing and sustainable communities.
- Norwich
and Peterborough has
been running a 'green mortgage' since 1998 and aims to be the
first building society that is carbon neutral
Self Build
Mortgages:
Mortgages
in General:
Mutual Building
Societies
Demutualised
Building Societies
Banks
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Buildstore Mortgage selector
 Barclays Sunbelt European Mortgage
  Buildstore
Home Improvement Mortgage
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