Paying for Your Homebuilding Project
CrowditBuildit is proud to partner with BuildStore Mortgage Services (BMSL) to offer you a comprehensive range of borrowing solutions, including exclusive mortgages specifically designed to fund your Custom Build home.
As the UK’s leading mortgage brokerage specialising in homebuilding finance, BuildStore has helped over 30,000 customers successfully fund their self & Custom Build projects over the past 25 years. They are an award-winning mortgage specialist and their expertise in construction and homebuilding finance is unmatched, ensuring you receive tailored advice and the right financial solutions for your project.
Comprehensive Support for Custom-Builders
Building your dream home is an exciting journey, but securing the right funding is crucial. BMSL provides complete support services to guide you through every step of the financing process. From understanding your borrowing options to structuring your mortgage around your build schedule, their team of specialists ensures a smooth and stress-free experience.
What is a Stage Payment Mortgage?
Unlike traditional mortgages, stage payment mortgages are designed to release funds in phases, either in arrears or in advance, to align with the progress of your build. Depending on your specific needs, these payments may be:
- Valuation-Based Stage Payment Mortgages: Funds are released after each stage of work is completed, based on an uplift in property value as assessed by a lender’s valuation.
- Cost-Based Stage Payment Mortgages: BuildStore’s exclusive cost-based mortgages provide guaranteed stage payments based on your build costs, ensuring you receive the necessary funds when you need them and can meet contractual payments to your chosen building contractor.
Unique Benefits of BuildStore’s Mortgages
- Higher Borrowing Potential: With a valuation-based mortgage, you can borrow between 70% to 85% of your plot and build costs. However, BuildStore’s exclusive cost-based mortgage allows borrowing up to 95% of your plot and build costs and up to 85% of your completed home's value.
- Certainty and Security: Cost-based mortgages provide guaranteed stage payments, allowing you to plan your budget with confidence and meet your contractual obligations.
- Tailored Solutions: Your mortgage will be structured around your individual circumstances, build type, and payment schedule, ensuring the best financial support for your project.
Expert Guidance Every Step of the Way
Choosing the right mortgage is a crucial part of your self-build journey, and BMSL will be with you every step of the way. From initial advice to the completion of your home, they provide hands-on guidance, ensuring you have the financial support and expert advice needed at each milestone.
Their team will assist you in budgeting, managing cash flow, and navigating complex financial decisions, helping to mitigate risks and keep your build on track. With BMSL & CrowditBuildit, you’ll have trusted partners by your side throughout the entire build process, ensuring your home at North Owersby is constructed with financial security and peace of mind.