Self build mortgage

[Roo3Stuart]

Hi all

I posted this in home and DIY but thought I'd ask here too.

I'm looking for recommendations for mortgage providers or brokers for a self-build. My existing bank has a reasonably prudent approach and I am interested to know if this is normal. The property I'm interested in has a house on it but one option is to tear down and start again which I understand requires a different type of mortgage. Rough numbers from the bank for what I am looking at: Value of property with new house on it - £1.8m, less build cost £500k less risk factor £300k = value of consented land. They will then lend 50% so £500k. I'll need to borrow some money to buy the property in the first place so there won't be enough to fund the £500k build. I had simplistically thought I could borrow say £800k - £300k to help fund the property and £500k to fund the build - I have £700k of equity. The property with existing dwelling is worth £1m. I'm hoping there are other providers who take a less prudent view (and as I say very rough numbers to give an idea).

Any experience/recommendations welcome

Thanks

[Roo3Stuart]

Thanks, I can see this is going to be interesting!