Sally Hilliker Helps Client Navigate Specialist New Build Finance
Helping a Client Build Their New Home
How Mortgage Adviser Sally Hilliker helped a client navigate the finance involved in purchasing land and building a new property.
When a client wanted to purchase land and build a new home, Sally helped them understand the mortgage options available and navigate the finance involved in their plans.
Financing a New-Build Project
Buying land and building a property from scratch can involve different mortgage considerations from purchasing an existing home.
The client needed to understand how the land purchase, construction costs, funding requirements and lender criteria could work together.
Land
The purchase of the land needed to form part of the wider funding plan.
Construction
Building a home can mean considering how finance is required as the project progresses.
Lender Criteria
Different lenders may have different requirements for new-build projects.
Understanding the Mortgage Options
Sally reviewed the client's circumstances, plans and borrowing requirements before considering mortgage options that could potentially meet their needs.
Understand the plans
Looking at the proposed property, land purchase and overall project.
Review the finances
Considering income, affordability, borrowing requirements and the client's individual circumstances.
Consider mortgage options
Looking at potential mortgage solutions and the requirements associated with the proposed project.
Navigate the application
Guiding the client through the lender process as the mortgage arrangements progressed.
How Sally Supported the Client
Sally helped the client navigate the mortgage process by considering the project as a whole rather than looking at the land purchase in isolation.
A Clearer Route Forward
With the mortgage arrangements progressed, the client was able to move forward with their plans to purchase the land and build their new home.
Having mortgage advice from the outset gave the client greater clarity around the finance involved and what would be required throughout the mortgage process.
What the advice helped provide
Early advice gave the client an opportunity to understand the finance alongside their wider plans before moving ahead with the project.
What This Case Study Shows
If you are considering buying land and building your own home, there are several things worth considering before committing to the project.
Making a Complex Project Easier to Navigate
For this client, understanding the mortgage was an important part of planning their new home.
From the purchase of the land through to the proposed construction, having mortgage advice early in the process helped provide a clearer understanding of the finance and the factors that needed to be considered.
If you are planning a new-build project, our team can help you understand the mortgage options that may be available based on your individual circumstances and the plans for your property.
Considering a New-Build Project?
If you are looking to purchase land and build your own home, speaking to a mortgage adviser early can help you understand the finance options available and what you may need to consider before moving forward.
Speak to the HHH Mortgages team to discuss your circumstances and plans.
Important Information
This case study is for illustrative purposes only. Mortgage availability, lender criteria and affordability will vary according to individual circumstances. An application for a mortgage is subject to lender criteria and approval.
Your home may be repossessed if you do not keep up repayments on your mortgage.
House & Holiday Home Mortgages Ltd is an Appointed Representative of Mortgage Intelligence Limited, which is authorised and regulated by the Financial Conduct Authority, in respect of mortgage, insurance and consumer credit mediation activities only.