Self build mortgage

[Trendsetter]

Does anyone here have any recent experience of self build mortgages? I've chanced across a plot of land which seems like a good prospect for building a house on.

All talk of permission, etc. aside, what sort of deposit do lenders look for?

There are two plots available, one for £125k and one for £150k (wouldn't be buying both). Assume total build cost is £100k - £150k.

I would have about £70k deposit after selling my current house.

Would this be a reasonable prospect? All advice/ derision welcome!

[Heartworm]

Pm Sarnie on here, hopefully he will be along soon as lots of experience with mortgages,

[Trendsetter]

Heartworm said:

Pm Sarnie on here, hopefully he will be along soon as lots of experience with mortgages,

I've not yet mastered the pm function on this but I've spoken with him before so might give him a call. At the moment though it's just idle wondering so didn't want to go wasting anyone's time just yet

[worldwidewebs]

£100k build cost? I'm not saying it's impossible but you might want to do some decent estimating before you get too carried away.

[LaurasOtherHalf]

worldwidewebs said:

£100k build cost? I'm not saying it's impossible but you might want to do some decent estimating before you get too carried away.

I do this for a living, to get anything close to £100k a unit it’d be small/low spec.

[Trendsetter]

Fair enough. I guess I was just trying to highlight that there will be some fluidity in the price seeing as I haven't costed anything. I'm working really on the assumption that the total cost would be about £300k

[xstian]

Keep us posted in what ever you decide of find out. My parents own a plot I would like to build on, so its always interesting in what other have done.