Recognising the specialist nature of self and custom build mortgages, Knowledge Bank has teamed up with BuildLoan to fully support and guide intermediaries, and provide The Complete Consumer Duty Solution when advising customers embarking on a homebuilding project.
BuildLoan’s dedicated broker desk provides 1-2-1 support to source suitable products for your clients.
A UNIQUE SUPPORT PACKAGE
Addressing the key risks of using traditional self build mortgages to finance a self build.
For many clients, building their own home will be the biggest financial objective they have ever aimed for – and probably the most complex.
BuildLoan provides a unique and compliant support package to you and your clients, from submission of enquiry to the build being completed.
Our products and services protect you and your clients from risk by ensuring guaranteed stage payments linked to costs, agreed at mortgage application.
Consumer Duty Considerations
SELF & CUSTOM BUILD
When advising on self build finance and to comply with the Duty, you must consider the nature of the customer’s project, construction route, build costs and payment schedule in addition to the widely understood considerations around loan size, interest rate and costs, to ensure that the recommended product will provide the right funding pattern for the customer’s build.
UNIQUE PRODUCTS & BENEFITS
The traditional valuation-based approach to self build mortgages creates huge uncertainty and potential for poor outcomes for your clients. BuildLoan’s exclusive products take away risk of foreseeable harm by removing uncertainty during the build.
- Source over 60 products funded by twelve regional building societies
- All products offer guaranteed stage payments linked to stage build costs
- No valuations or LTV limits during the build
- Clients can borrow up to 95% of land and build costs
- Up to 90% of the value of the completed home
- Option of arrears or advance stage payment products
BuildLoan’s dedicated broker desk team provides 1-2-1 support to source suitable products for your clients.
