Self build mortgage

We assess every application on individual affordability. When we calculate affordability, we consider your 'net disposable income' (NDI) This is your net monthly income less long term commitments. This should not exceed the NDI figures below.

Long term commitments include:

• Monthly payments for existing UK mortgage, loan or hire purchase agreements
• 5% of total credit card balances outstanding as a monthly payment
• Proposed Spanish Mortgage repayment
• Maintenance or Child Support Agency payments

Minimum NDI figures:

• Sole applicant - £800
• Joint applicant or a sole applicant with dependants - £975
• Joint applicants with dependant or sole applicant with more than one dependant - £1,125

Your mortgage is drawn down in stages:

• 24 month limit- this is how long you have to construct the property after you've received the first payment. You have to take the loan in full at this time.
• Checking on progress- we need a surveyor (approved by us) to monitor and sign-off each stage of construction. Staged drawdowns are released when we receive approval from the surveyor.
• Revaluation- once construction is finished, we appoint a surveyor to re-value the property.