Self Build Mortgage

A self build home, financed by a self build mortgage has a lower loan to value percentage. We explain the stage payment process in detail so you can plan your build best.

Getting a mortgage to build a house

Self build mortgage applicants get free broker advice for all new build home owners. Regardless of your current situation or stage of the building process you are at. We lend a hand and offer our expert advice to help make the task of building your first house that little bit smoother.

Mortgage Deposit

Self Build Buyer Deposit

A minimum 10% deposit for your self build mortgage or 0% if you own the site already.
Mortgage Approval

New Build Mortgage Application

You'll need pay slips from your employer and bank statements from the last 6 months .
Self Build Mortgage

Building Your House

Once your lender approves your home loan you can start construction on your house.

Mortgage calculator for self build mortgage

Find out how much a mortgage costs if you are self building with a quick quote below using our online mortgage calculator. The form is quick to complete and you get a price within seconds!

Your Mortgage Results

Based on the details provided, you could avail of a mortgage of up to:

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Benefits of using a mortgage broker

Property loans can be complex financial agreements lasting over three decades. Its important to have someone independent on your side to explain the jargon and get you the best deal.

Getting a mortgage to build a house

Looking to build your dream house? For this kind of housing mortgage, you will need to apply for a Self Build Mortgage. This type of housing project requires serious commitment and huge financial investment, and therefore can quickly become your worst nightmare without the right advice and help.

Compared to a normal residential mortgage where you receive the entire loan amount to pay the builder, a Self Build Mortgage is where the mortgage is drawn down in a sequence of stages. In other words, you only get the amount necessary to complete works for a certain building stage. Only when this stage is complete, you receive the funds to complete the next stage.

Compare self build mortgages

In order to find the best Self Build Mortgage rates to meet your planning needs, we work alongside many mortgage companies so that borrowers can choose the best repayments plan for them.

With a Self Build Mortgage, you will only receive the funds to complete the next stage of building once the existing stage is complete. This ‘staggered’ approach to drawing down money continues until the construction is complete. An average self-build generally takes between three to five stages to complete. However, there is the option of lengthening the construction work across more stages to spread the costs over a longer period of time. Finance is based on a percentage of the completed property value.

Jargon buster for self build home applicants

We explain the most common jargon terms used when talking about mortgages in plain simple to understand language.

10% minimum of the house construction cost is required as a deposit before you can apply for a mortgage.

For example, if you wish to build a house that costs  €200,000 you will need a deposit of at least €20,000

NOTE

You can borrow 100% of the property build price if you own the site or it has been gifted to you

No. Self build mortgages are staggered payments.

For each completed stage of construction the lender will release the funds to pay for that specific stage.

AIP is short for Approval in Principle.

Its a non legally binding opinion from our first conversation about your finances to give you an indication of how much you might be able to borrow for a property.

The normal maximum borrowing level is 3.5 times your annual gross income based on a single income application.

LTV is short for Loan to Value. This is the amount of money you can borrow based on the asking price of the property.

A first time buyer can borrow up to 90% of the value of a property and a 2nd time buyer can borrow up to 80% of the value of a property.

The standard variable rate is the main mortgage rate charged by your lender. It is the long term rate of interest that your mortgage will switch to once your introductory fixed rate period has ended.

A variable rate mortgage means your monthly repayments can go up aswell as down based on European interest rates and your mortgage lender.

Self Build Mortgage Guides

When your building a new home keep informed with our mortgage advice on how to pick the best mortgage that's right for your .