Loughborough Building Society has partnered with self-build and renovation specialist BuildStore.
Through BuildStore, self-builders can borrow up to 75% of the cost of the land and the build, at a rate of 5.25% for two years, reverting to SVR (currently 4.99)%, for the remainder of the term.
“We warmly welcome the addition of Loughborough to our lending panel and applaud its innovative approach in seizing the opportunity that the self build market offers,” said Raymond Connor, chief executive of BuildStore Financial Services.
“From self builders’ point of view, the net result of our partnership with Loughborough is enhanced product choice and support in providing positive cash-flow at every stage of the build, which is critical to anyone undertaking a bespoke build project.”
Gary Brebner, the Loughborough’s chief executive, added: “Working with BuildStore to engage with self builders fits perfectly with the society’s values as a customer-focussed mutual.
“We fully support the government’s commitment to self build as a viable route to sustainable housing in addition to the boost in local employment that it can provide.”