Boutique packager Mayflower For Brokers is offering a new exclusive self-build mortgage designed to assist brokers in placing self-build cases more effectively.
The exclusive self-build mortgage has options available at 5.39% and 5.79%. The loan amount ranges from £1,000,001 to £3,000,000, providing ample financing for various types of projects, including barn conversions, new builds, knock down and re-build, refurbishments, and the purchase of land with planning permission for owner-occupied properties.
Mayflower’s self-build mortgage features flexible loan-to-value (LTV) ratios, with options available at 80% and 75%. The lenders’ product fee is set at 0.5% of the loan amount.
Importantly, the mortgage does not come with any redemption penalties, providing borrowers with the freedom to manage their repayments without restrictions.
Additionally, Mayflower’s self-build mortgage allows for interest-only payment and is flexible on construction types.
Brokers who work with Mayflower can benefit from a 0.5% proc fee paid to them through Mayflower’s packaging option.
