Buildstore offers a range of Buildstore mortgages and finance solutions suited to the requirements of the self-build market.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Buildstore started life in 1998 as a land finding and mortgage brokerage service for people interested in building their own home. Since then self-build has become increasingly popular, in part thanks to the proliferation of property development programmes on television – Grand Designs being a popular example. As a result, Buildstore has grown considerably and is now one of the leading suppliers to the self-build and renovation market in the UK.
Buildstore work with a number of partners to provide finance products for the self build market. When the company first started, there were very few mortgages available for customers wanting to build a home instead of buying a ready-made property.
Self-build mortgages are very different to regular mortgages. The money is released in stages instead of as a lump sum amount. In a traditional self-build mortgage, money is paid out at the end of each defined stage of the project, or in other words, in arrears. This type of arrangement doesn’t suit every customer, so Buildstore offer a different finance solution.
Buildstore works with a number of banks and building societies to provide self-build mortgage products. The company has access to mortgages from big name lenders. They also offer their own finance scheme called the Accelerator Buildstore Mortgage Scheme.
A Buildstore Accelerator mortgage releases money in advance and allows for a more positive cash flow. The Accelerator is suitable for customers with less money to get a project off the ground. It is also a good choice if a customer is not ready to sell an existing property in order to finance a self-build project.
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