Mortgage to build a mansion (self-build)

A mortgage to build a mansion is a self-build mortgage that releases funds in stages as construction progresses, rather than as a single advance. Typical stages run from land purchase through foundations, wall plate, wind-and-watertight, first fix and completion, with the lender inspecting or revaluing at each stage.

Self-build lending on a high-value project requires detailed plans, costings, planning permission and usually an experienced professional team. Lenders will want confidence that the completed property will be readily mortgageable and saleable.

On completion, many borrowers refinance the self-build facility onto a standard residential or private bank mortgage at a lower rate.