Funds released for self-build projects
Leeds Building Society has reentered the self-build market with the launch of a new variable mortgage designed to help people create their own “Grand Design”.
Funds are released in five stages, which are Land Purchase, Wall Plate, Roofed In, Plastered Out and Completed.
The society will release up to 75 per cent of the value for each, which is beneficial to self-build customers both in terms of managing their outgoings and cash-flow. Borrowers only repay the amount they have borrowed and can access funds at each stage of the build.
Paul Kaye, general manager at Leeds Building Society, says: “It is often very difficult to predict and budget exactly for five stages. The flexibility of our selfbuild product means the process is made much easier.
Visit www.leedsbuildingsociety.co.uk or call 08450 540 994.