Self-build mortgage completions grow 144% this year
New data shows a huge increase in the number of self-build completions using specialist mortgages year-on-year.
New data from Saffron Building Society has seen a huge increase in the volume of self-build completions year on year.
Image: Penny and Mark Telleli’s self-build appeared on Grand Designs in 2017. Photo: Paula Beetlestone for Mulroy Architects
New figures from Saffron Building Society have revealed that, year-on-year, there has been an increase of 144% of self-build mortgage completions. These include first-time buyers and property conversions, as well as larger, multi-plot projects.
“We are delighted to see that the interest in self-build mortgages is on the increase. With the fluctuations in the market, it is a really feasible option for first-time buyers as a complete build will face too many financial changes – just material cost. Another positive is the amount of people upgrading current property stock. Bringing them in line with current regulations, extending them and making them habitable and then marketable should they choose to sell, great for the environment,” says Colin Field, CEO of Saffron Building Society.