Hampden & Co has launched self-build mortgages for clients who are acquiring land and building a new residential home, or who are significantly refurbishing an existing home.
Hampden & Co has launched self-build mortgages for clients who are acquiring land and building a new residential home, or who are significantly refurbishing an existing home.
Loans for self-build projects are available from a minimum of £750,000 to a maximum of £4m.
Hampden & Co, which operates across the UK from offices in London and Edinburgh, can lend up to 50% of the purchase cost or value of the land, or up to 70% of the combined value of the land and build.
According to a report by AMA Research, self-build completions for 2019-2020 were estimated to account for around 12% of total housing output, with those people in the 50-60 age group the most active in the market, which is largely attributed to financial or asset wealth.
Duncan Buchanan, banking director at Hampden & Co, said: “We help clients throughout the process of building their own homes, not only by providing the necessary finance but by working closely with the client and other specialists to help ensure the success of the project.
“It’s consistent with our overall approach at the bank that we go the extra mile for our clients.”
