£2.1m Self Build Mortgage for a Self Employed Business Owner
What was the situation?
What was the issue?
What was the process?
Martin Ball – Mortgage Adviser, Private Clients, is an expert in self build mortgages and knew which lenders would assess this case on its strengths rather than its timing. The building society he selected combines a proven self build record with a clear understanding of how business owner income should be assessed.
Drawing on an established relationship with the lender’s business development manager, Martin took the case to them directly. Knowing exactly what would be required, he presented the company’s net profit position, the build programme, the planning conditions and the staged funding requirement ahead of formal submission.
The lender was confident in the case from the outset, committed to the timeline the build required and agreed the full funding structure early.
Under the structure Martin put in place, funds would be released in stages across a 12-month build period. Each tranche would be paid once the relevant phase of construction was complete and an independent surveyor had confirmed progress on site. Interest would be charged only on funds drawn, keeping borrowing costs aligned with the pace of construction.
To reflect the short term nature of the borrowing, Martin also selected a mortgage without early repayment charges or a product tie-in.
What was the solution?
High-value lending solutions with LDN Finance
Are you looking to purchase a new property but have a complex income structure? We’re here to help you find a solution – no matter how complex your circumstances. At LDN Finance, our specialist brokers have extensive experience in providing creative solutions to secure large loans for our clients.
We work closely with our trusted network of private banks and both high street and specialist lenders to arrange bespoke mortgage arrangements to suit your circumstances at competitive, market-leading rates.
If you or your clients are planning a self build, start with our new guide and checklist, then speak to Martin about structuring the right self build mortgage.
Get in touch with us to organise an initial consultation.
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