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Who are the Self-build Mortgage Lenders in Northern Ireland?

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The self-build mortgage are a niche market in general but add that to the usual restrictions that come along with the Northern Ireland market and you don’t have many lenders to choose from.

Who will provide a mortgage for a self-build in NI?

Well in alphabetical order the lenders offering self-build mortgages across the province are*:

  • Bank of Ireland
  • Danske Bank (formerly Northern Bank)
  • Ecology Building Society
  • First Trust Bank
  • Halifax
  • Progressive Building Society
  • Ulster Bank

* List up to date as of 28/04/2013

So why do you need a mortgage adviser when you could look up 7 websites in 15 mins and know the best deal?

That’s simple, a good mortgage adviser will know the lenders that are willing to lend. They will match you and your self build project to the most suitable lender. Every lender has individual requirements that they want their borrowers to meet for a standard mortgage but this is even more prevalent for self-build mortgages.  For instance some lenders will release money on the land whereas others will expect you to reach wind and watertight before releasing a penny.

A good mortgage adviser will also save you time and frustration when it comes to the drawn out mortgage application process.  A typical self-build mortgage application can take up to 4-10 weeks in the current market and a mortgage advisor can take most of the burden off your hands.

If you know of any other lenders in the NI Self-Build Mortgage market why not leave a comment and we’ll update the list accordingly.

Images courtesy of Atsushi Tadokoro on Flickr

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

About Ciaran Scullion

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