The society will now also consider joint venture developments where there are fewer than 16 properties and developments where the existing property is being demolished.
Nottingham Building Society has increased its maximum self-build loan-to-value to 75% on the purchase of the land and 80% of the building costs.
The society, which offers self-build in partnership with BuildStore, will now also consider joint venture developments where there are fewer than 16 properties and developments where the existing property is being demolished.
Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “After a cautious entry into the self-build market in March we now believe the time is right to open up our criteria.
“At The Nottingham we have a growing appetite for specialist niche lending and these enhancements will enable more self-builders to secure the right type of funding for their bespoke home projects.”
