Stage One: Land
If you haven't already, this is the stage where you would purchase your land.
We offer a range of products to help those wanting to build their own home. If you’re looking for help, this self-build guide breaks things down in a more understandable way. It’ll give you an idea on how we can help you make your dream home a reality!
When applying for a self-build mortgage, it’s important that your credit report is in good condition, and the income and outgoings shown on your bank statements are healthy, with no signs of overspending.
Other information that you will need is similar to applying for a regular mortgage. You will also need to provide a copy of the plans and elevations, planning permission and detailed costings. We will also ask to see a copy of Building Regulation approval, the schedule of works (including dates), details of the structural warranty, and evidence of funds that you have available.
We release the payments in arrears on completion of the following build stages. Don't worry about the word 'arrears', it just means that you'll receive the funds once each stage is completed:
If you haven't already, this is the stage where you would purchase your land.
Foundations are where it all begins. This includes drainage, brickwork and floor slabs that will begin to create the outline of your dream home.
Next, your walls and frames are created. This is everything before your roof is placed on top! You will see your first floor start to take shape and load bearing walls will then be placed.
You will begin to see your roof installed along with your doors and windows. Your house should be watertight quite quickly after this point!
Internal walls will be built and electrical works begin as well as piping for your water, staircases and door frames. All your electrics and plumbing will be placed and then plastered over.
The second fix means your rooms will be installed. You can then start to decorate your home. This will then see you through to completion, helping you get ready so you can move in!
Now you're familiar with how they work, head over to our products page and continue finding out if a first-time buyer mortgage with the Vernon is right for you.
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0161 429 4318