Looking at a Self Build?

We have years of experience in both arranging financing and doing builds ourselves!

A woman is stood next to a new construction site with footings already poured and supporting walls in the early stages of being build. She is wearing a hard hat and holding architect plans in her hands.


1 - Let's get your
self-build started!


If you are looking to build your own home or renovate your home, we can help! When planning your self-build/renovation you need to know how much you can borrow. This will enable you to plan your build to ensure you don't overspend!

At this stage we will talk through your plans, the type of project you wish to undertake, income, outgoings, savings etc. We will get your mortgage approved in principle to ensure you pass the lenders credit scoring requirements.

You will also want to source your tradesmen/tradeswomen at this point. Think;

  • Architect
  • Structural Engineer
  • Building Contractor
  • Electrician
  • Plumber
  • Plasterer

It's important you have the right people for your build. You may have to wait 6 months or more before your trades people can start work so this needs to be factored in.

Right, onto the next stage!

An image of some steelwork resting on supporting walls on a self build house construction site


2 - Let's finalise your big plans!


Now is the time to;

  • Have your offer accepted on the land
  • Agree costs with your tradesmen/women
  • Have your architect and structural engineer drawings drawn up
  • Submit your drawings for approval with planning
  • Have your planning permission granted
This stage can take some time so factor this into your timescales.

A laptop on a table with a screen showing a sef build mortgage application. The laptop is sat on top of architectural drawings.


3 - It's time to submit your application.


Once you have your planning approved, the costings for your build and your tradesmen/women lined up, your mortgage application will be submitted to the lender. The lender will review your application to make sure they are happy with your application and they will instruct a valuer to value the land/property at its current value but also the end value.

  • The valuer will want to see your plans. It may be worth having your architect on site to speak with the valuer.
This process can take a few weeks as there is a lot for the underwriter to review.

A woman is holding a copy of a letter from her mortgage company saying she has been successful in her application for her self build mortgage that Naomi Financial helped her secure.


4 - Your mortgage offer is approved!


Once the underwriter is happy with your application and valuation they will issue your formal mortgage offer!

  • Should any of your circumstances change after the mortgage offer has been issued this could invalidate the offer and it could be revoked. Be mindful to not take out any extra credit, don't change jobs and don't miss any payments on any existing credit commitments.
When you applied for your self-build mortgage, we will have worked together to plan the payment schedules for when the lender will make payments to you as the project progresses.

An image of a cement mixer truck arriving at site in order to pour the concrete into new footings that have been dug for the new self build house.


5 - The building work can begin!


Once your mortgage offer has been issued and the solicitors have carried out the necessary work you can request the first draw down of your mortgage funds to get your build underway. This is where it gets exciting as everyday you'll see changes to your project!

  • It's a good idea to keep track of who you have paid and what for. There will be a lot of costs going out and you can easily lose track. If you are managing the project yourself, there is software you can buy or subscribe to so that you can more easily keep track of your costs and budget. If you have decided to use a project manager - whether that be your building contractor who is managing the whole project - or a third party project manager to oversee everything, they should give you access to their ongoing costings software so you can compare it with your own figures. It's so important not to let costs run away from you so keeping a strict budget with a contingency fund is paramount!

An image of a huge detached house in the countryside that is surrounded by scaffolding during its construction phase.


6 - Are you ready for more funds?


During your build / renovations you will request further funds from the lender to continue.

  • The lender does not release all the funds required in one go, they are released in stages.
You can request funds upfront or in arrears. This has to be decided at the outset so we know which lender to recommend to you. You also have the option to have funds released based on the actual cost or based on the current value of the property.

  • The property is likely to decrease in value before increasing, so be mindful of this.
You should be seeing some real progress in the building of your new home!

An image of a huge detached house in the countryside that has now been completed.


7 - Your self-build is now your home!


Once your build is complete, you will need to have building control in for the final time to sign everything off and depending on whether you drew down your funds upfront or in arrears you may have a final payment to draw down.

  • Don't forget to have your building warranty issued. You will need this for the next 10 years.
You would now remortgage onto a standard residential mortgage product. This should bring down your interest rate.

Now your home is complete it's time to move in and enjoy your home!

  • If you are thinking about building your own home or completing a substantial renovation drop us a message to find out how much you can borrow.

An image of Naomi from Naomi Financial stood outside a building that is in the process of being built. She is stood holding a hammer and a handful of nails.


You've finished the seven steps to building your own home!


It's so important that you partner with a broker who understands the process, who's been in your situation and seen the highs and the lows of a self-build project.

If you are looking for help with your self-build journey please reach out to us, we'd love to help! You can email us,call uschat with us below or fill in the form on the right - either way, we'll get back to you as soon as can!

We can't wait to work with you!