Brokers will now be able to offer BuildLoan, the self-build mortgage for the intermediary market, to their clients and receive a procuration fee via APS Europe.
The wide range of features, which make it an ideal solution for self-build and renovation clients, include borrowing of up to 95% of the lower of the cost or value of land, borrowing on land with only outline planning permission and up to 95% of the build costs.
The stage payments are made in advance of each build stage and in addition to a self-certification option applicants can take an interest payment holiday during the build.
In addition to the finance from the four lenders currently operating as BuildLoan partners, BuildStore also offer a land-finding service via its online database, PlotSearch, site insurance and structural warranty, access to a network of project co-ordinators and a materials-buying service which guarantees trade prices.
APS Europe director Ben Gardner says: “The addition of BuildStore to our panel further enhances the choice of lenders for our members.
“The specialist field of self-build and renovations is a growing market and something our brokers have been making enquiries about for some time now and we are delighted to be able to promote and provide access to the range of BuildLoan mortgages.”
BuildStore’s Managing Director Raymond Connor says: “Self build has become a mainstream option to buying a house and the mortgage intermediary is well placed to take advantage of the increase in the market. Our BuildLoan product which gives the self builder a high lending percentage and positive cashflow during the build has become very popular with intermediaries and we are delighted that it is now available via APS Europe.”
For further information please contact the APS Europe helpdesk on 0870 203 6000
