Will living in my current home during a project affect my finance options?

I am about to embark on a new self build but am not ready to sell my current house yet, as I need somewhere to live during the works. Is there a clever way that I can pay for my new self build project that does not involve me having to sell the current house that I’m living in?

is depends on how you fund your build and how much cash you have in savings. If you choose a valuation-based stage payment mortgage, where each phase is valued by a surveyor before the money is released, you’ll need a minimum deposit of 15% of the plot price. You will also need to find sufficient money to pay for the early stages of the build.

If you don’t have sufficient savings stored up, then you may therefore decide to sell your current property in order to release the equity before starting your new project.

If you do not want to sell your current house and move into temporary accommodation before your new home is complete, as is oftern the case, then Buildstore’s cost-based self build mortgage may be the right choice for you and your scheme moving forward. e higher lending percentages and advance stage payments during the construction phase will ensure that cashflow is not an issue for you. is means that you can continue to live comfortably in your existing house until you’re ready to move out and into the new property.