Buildloan Self-Build Mortgage (£120,000 - £700,000)

2.09% of the redemption balance during year 1.

There is a £115 application fee payable on this product.

£1,499 (can be added to the loan, subject to LTV and lending criteria, or paid on completion. Fees added to the loan will accrue interest. Further details are available on application).

An additional security fee to purchase a policy which protects the lender against loss for 3 years if the property is repossessed. Paid by the applicant directly to Buildloan prior to completion and is non-refundable. Details of the fee are available from Buildloan.

£75 (paid on redemption).

Paid directly to valuer by the applicant. A standard mortgage valuation is required on all properties. The Valuer will re-inspect at wind and watertight and final completion stages. Valuation and re-inspection fees can be viewed on our website www.chorleybs.co.uk/valuation-fee-scale-self-build/

A Procuration fee will be paid to Buildloan and the Introducer by the Society upon completion of the mortgage. Please refer to your Introducer for details.

Paid by the applicant to Buildloan prior to completion. Non-refundable.

Minimum - 21

Maximum - 85 (Interest Only and Part & Part Mortgages)

                   - 90 (Repayment Mortgages)

Minimum - 2 years

Maximum - 40 years

Minimum - £120,000

Maximum - £700,000 inclusive of fees (Maximum Loan amounts vary by LTV, please refer to our current criteria for details)

Not available to customers who meet the Credit Renew criteria.

Interest only payments are permitted during the build phase. On the final release of funds or after 3 years, whichever is soonest, the mortgage will revert to a capital and interest repayment basis. If an interest only repayment type is required for the remainder of the mortgage term, this is permitted subject to meeting our interest only criteria.

The Society will allow overpayments of up to 10% of the capital balance per annum without invoking an early repayment charge.

You can keep this mortgage should you move to a new property. This mortgage is portable subject to your status meeting our criteria.

If there is an existing structure on site Buildings insurance must be in place on completion of the mortgage. Contract works cover must be put in place before works start. Upon completion of works Buildings insurance is compulsory in all instances.