Are you ready for the ‘Grand Designs’ effect?

With the new series of Grand Designs now airing would-be self-builders the length of the country are being inspired to take the plunge.

If past years are anything to go by, this will create a flood of self-build mortgage enquiries as a result – make sure you’re ready!

‘Presenter Kevin McCloud follows some of Britain’s most ambitious self-building projects, as intrepid individuals attempt to design and construct the home of their dreams’, says the Channel 4 promo.

Intrigued? I certainly am.

This mid-week TV favourite has been enthralling audiences for the last 24 years and is set to do so again in this latest series.

Although every episode is different, the benefits of self-build are outlined in each property featured.

We regularly hear about potential cost savings compared to a regular new-build; the opportunity to create a home personalised to the self-builder; ways to create eco-friendly and energy-efficient homes plus the opportunity to include the most recent technological advancements.

We wish Kevin McCloud every success with the new series and at the same time I’d like to alert brokers to the potential, increased interest in financing self-builds as a result of the show.

Choosing the right lender

The opportunity for brokers is clear to see as the popularity of self-build continues and we’re here to help.

As a specialist lender, Harpenden Building Society offers robust self-build mortgage options, delivered by an experienced team.

We understand that every mortgage application is unique, and we undertake manual underwriting to ensure we assess each application individually.

We are a team committed to simplifying the complexities of mortgage enquiries, ensuring that expert guidance and support is received throughout the entire self-build financing process.

Our policy and criteria help support brokers and their customers as they embark on their self-build projects.

Harpenden’s self-build offering includes:

  • Barn Conversions, New Builds, Knock Down and ReBuild or the purchase of land with planning permission
  • New Builds on owner-occupied land
  • 65% LTV for loans up to £1.5M, available anywhere in England or Wales
  • 70% LTV for loans up to £999,999, where the property is in a prime area and the build project is  professionally managed
  • Up to a maximum of 3 properties being built, one to be subsequent main residence
  • Consider modern methods of construction (valuer comments dependent)
  • Self-build retention releases are not linked to stages
  • I/O during the build
  • Option to product switch once build is fully complete to standard residential product without further underwriting and without incurring ERC’s
  • We can help with refurbishment projects

We’ll consider many forms of complex income, including pension, trust income, maintenance as well as 100% of bonuses, overtime and commission (two years proof required) and investment as well as standard employed and self-employed.

Chelsea Pordage is telephone business development manager at Harpenden Building Society