The products are exclusively available through Mayflower Mortgage & Finance
Harpenden Building Society has relaunched its self-build range with a new standard term, exclusively available through Mayflower Mortgage & Finance.
The lender’s standard self-build is now available at a maximum loan-to-value (LTV) of 70% repayment and interest only, while its short-term self-build is offered at a maximum LTV of 70% interest only.
Also available anywhere in England or Wales are loans of up to £1.5 million at 65% LTV, while 70% LTV for loans up to £999,999 can be taken where the build project is professionally managed.
The range applies to barn conversions, new builds, knock down, and rebuild, or the purchase of land with planning permission.
The building society also accepts new builds on owner-occupied land and considers flexible construction types, depending on valuer comments.
Self-build retention releases are not linked to stages, and refurbishments, such as converting a house currently divided into two flats back into a single dwelling, are also allowed.
The mortgages can be up to a maximum of three properties being built, with one to be the subsequent main residence. Once the build is complete, customers can switch to a standard residential rate.
Also available is a short-term product option, with no early repayment charges after the first year.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
