If you require finance for your SIPs home, we highly recommend BuildStore Mortgage Services as your first stop when evaluating your mortgage options. Our partnership with Buildstore will make the process easy and accessible.
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BuildStore is the UK’s leading mortgage brokerage specialising in mortgages and finance, designed specifically for homebuilding projects. Our specialist mortgage advisers will recommend and tailor borrowing solutions to your financial circumstances, design and build specifications, and payment schedule. Build Store fully understand the SIPs product along with the stage payments you will require to support the progression of your SIPs home.
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For more information and expert advice on how to fund your SIPs build, click here to enquire or call 0345 223 4888. Equally feel free to chat to the Ecologic SIPs team who will be happy to put you in touch with someone that can help​
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BuildStore has helped more than 28,000 people successfully build their own homes. Or, to put it another way, they could now fill a medium sized town with BuildStore projects.
Valuation Based Mortgages
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Valuation-based stage payment mortgages release funds after each stage of the building process is completed and a lender’s valuation shows an uplift in value. This means you won’t know how much money you’ll get after you’ve completed each stage so there is a real risk you won’t get what you need, which could bring your build to a standstill.
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These mortgages may be more suitable for traditional building methods, where the build costs are more evenly spread across the build, where you already own your plot so already have some in built-in value or where you have more cash of your own available to put into your build.
Cost Based Mortgages
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Cost-based stage payment mortgages provide guaranteed stage payments based on your build costs. Funds can either be released before or after each build stage, depending on your payment schedule. There are no valuations during the build, so stage releases can be agreed as part of your mortgage application. This type of mortgage is exclusively available from BuildStore and works particularly well with an Ecologic SIPs build as you can get money from the lender towards the cost of your SIPs home before it’s even on site.
How much can you borrow?
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How much you can borrow depends on your financial circumstances. Like any mortgage, lenders will assess your income and outgoings to calculate what you can afford.
For a valuation-based self build mortgage, the money your lender will release is typically restricted to 80% of their assessment of the value of your site at any time - you won’t know how much is available to you until you ask for more money.
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With BuildStore’s higher lending percentages, you could borrow up to 95% of your costs, (100% if you already own your plot) with a maximum of up to 90% of the expected end value of your home. What’s more, you’ll be told as part of your mortgage application how much you’ll receive at each stage of your build- guaranteed.
BuildStore's dedicated support team is with you throughout your mortgage application, during the build and beyond - offering support and guidance, and dealing with any issues that may arise to ensure a smooth and stress-free project.
The BuildStore Difference
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Specialist knowledge and expertise
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Competitive interest rates
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Exclusive products and lenders
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Interest only payments during the build
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Guaranteed cost based stage payments to coincide with your costs
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Ability to stay in your current home until your new one is complete
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Tailored cash flow to suit your build and payment schedule
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Borrow up to 95% of your land and build costs