Self build mortgages.
Get help with a self build and renovation mortgage.
Building your own home can be an incredible experience. If you’ve had a flash of inspiration and are looking to design your own home or want to embark on a renovation or conversion project, then our range of self build and renovation mortgages could be for you.
At Suffolk Building Society, we have flexible stage releases and a range of follow-on products for energy-efficient self-build homes. We know how important your project is to you, which means we’re only a phone call away – whatever stage you’re at.


Suffolk Building Society
Why self-build with us?
Flexible stage release
Unlike some lenders, we won’t set pre-defined milestones to release more of the loan. If you can evidence progress on the build, we’ll work with a valuer to calculate the next stage release sum, which can be helpful if a specific task has cost a little more than you first thought.
We appreciate you’ll want some certainty to help you plan. You can find out more about accessing self build mortgage stage payments in our FAQs below.
A wide range of building types
Available for several projects and build types, including new projects from scratch; conversions; renovations; knock down and rebuilds; and mid or partially built projects.
EPC related follow-on
If your finished project achieves an EPC rating of A or B you’ll be able to access a reduced rate for your follow-on product. A little ‘thank you’ from us for your efforts in helping the planet.
ERC free product switch
Every one of our self builders can switch from a self build mortgage product to a residential product, without paying an early repayment charge.
GET STARTED
How a self build and renovation mortgage works.
You’ve got a great spot of land with some planning permission, and you can’t wait to get building. Here’s how we can help you to get started and release your inner architect.
- Complete our mortgage enquiry form. We’ll then get in touch with you about the finer details – such as project costs, the value of the land, and the planning permission in place.
- Once you’ve formally applied for your mortgage, paid fees and we’ve given you a ‘Decision in Principle’; we’ll send a valuer to check the land and the plans. We’ll always try our utmost to use the same valuer throughout the build.
- The application will then be processed, and once ready, and offer will be issued.
- If you accept the offer and the legal work has been carried out, we’ll start working on the first stage payment!
- Based on the agreed value, you can then take your first draw down. We then release funds as part of our ‘flexible stage release’ process. Unlike some other lenders, we don’t require you to hit certain milestones in the build before the next stage release. So long as you can evidence progress against the project plan, we’ll send the valuer to estimate the value of the land and the build so far, which we’ll use to calculate the next stage release sum.
When your dream build is complete, we’ll speak to you about arranging your self build and renovation follow-on product.
WHAT HAPPENS NEXT
Follow-on products
Every one of our self builders can switch from a self build mortgage product to a residential product, without paying an early repayment charge (ERC).
And if your new home has an EPC rating of A or B you’ll have access to a special follow-on product, again without paying an ERC.
Here to help
Find a self build mortgage.
Below you can view our self build mortgage products to see what’s currently on offer. A self build mortgage with Suffolk Building Society can include financing new build projects, renovations, conversions and even ‘knock down and rebuilds’.
Found a self build mortgage product? Use our mortgage repayment calculator to get an idea of how much it’ll cost, or for general details about mortgages visit our mortgage information page.
Mortgage Name
Rate
Initial Rate
APRC
Rate Term
Max loan amount
Max LTV
Full Details
Self Build & Renovation Large Loan 2 Year Discount Rate – for purchase or remortgage up to 70% LTV
Variable
Product ID: Purchase: 46108 Remortgage: 46109
Variable
Initial Rate
6.29% (SVR minus 2.40%)
APRC
8.3%
Rate Term
2 year
Max loan amount
£2m
Max LTV
70%
Eco Self Build & Renovation 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
Variable
Product ID: Purchase: 46106 Remortgage: 46107
Variable
Initial Rate
6.09% (SVR minus 2.60%)
APRC
8.4%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Self Build & Renovation 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
Variable
Product ID: Purchase: 46104 Remortgage: 46105
Variable
Initial Rate
6.19% (SVR minus 2.50%)
APRC
8.5%
Rate Term
2 year
Max loan amount
£1m
Max LTV
80%
Additional Borrowing (Self Build) Standard Variable Rate – up to 80% LTV
Variable
Product ID: 83008
Variable
Initial Rate
8.69% (SVR)
APRC
9.6%
Rate Term
3 year
Max loan amount
£500,000
Max LTV
80%
CASE STUDY
How we helped Jules and Nigel to build their dream home.
When Jules and Nigel bought a Suffolk cottage, they had plans for a significant extension – to help accommodate their dogs and miniature pet donkeys!
- The couple opted to incorporate eco-friendly features such as an air source heat pump and natural cladding.
- They were looking for a 13-year term to take them into retirement, raising £300,000. Their existing property was worth £385,000, with an expected £1.2m value on completion of the work.
- As part of the work, they were also able to include some unique features such as a picture window in the kitchen to allow the donkeys to walk up to the house, a grand feature staircase which was a focus of their vast living area.
At Suffolk Building Society, we endeavour to understand your vision and work with your, your architect and the valuer to make it a reality.
FAQs
Self build mortgages – your questions answered.
A self build mortgage is a home loan taken out to build a property, not just for brand new projects but also can include partially built projects, conversion, renovations and knock down and rebuilds.
Self build mortgages are for when funds are needed for construction and renovation purposes, whilst a residential mortgage is for purchasing a property which is already-built and habitable. Additionally, with a self build mortgage the money is released in stages as the build progresses, rather than in a lump sum.
Self build mortgage lenders will have their own requirements around when you can release stage payments. At Suffolk Building Society we operate flexible stage payments which can include milestones such as buying the land, laying foundations and making the building wind and watertight right through to buying fixtures and fittings, with the final stage always retained until the build is complete. We recommend you liaise with your project manager to ensure the funds are requested at the right intervals to maintain cash flow. At each stage release we’ll need to instruct a valuer to inspect the property, and charge a stage release fee totalling £100 .
You’ll need to check this with your self build mortgage lender. Our self build mortgages are only for personal use, so borrowers must live in the property themselves once it has been completed.
Once you have finished your self build project you will need to inform your lender, usually supplying a completion certificate. At this point the last stage of funds will be released for your final bills to be paid. Subject to the terms of your mortgage you should be able to remortgage onto a standard residential deal. At Suffolk Building Society we offer follow-on mortgages for existing borrowers, as long as circumstances have not changed and there has not been any reduction in household income.
It’s down to self build mortgage lenders to assess which methods of construction they’re happy to accept. At Suffolk Build Society we can consider a variety of build types, including those using modern methods of construction (MMC) and ones primarily built offsite. In some instances we will require these schemes to be accredited through BOPAS, which gives assurance properties are sufficiently durable and readily saleable for a minimum of 60 years.
There are some clear benefits to building your own home, however it’s no small task, and there are both advantages and challenges that you need to be aware of from the outset.
Perhaps the most obvious advantage of building your own home is the ability to make it completely bespoke. You could choose to integrate energy-efficient systems, which could provide savings in the long term and be more effective than retro-fitting. Additionally, self builders may be able to claim back VAT on labour and many material costs. It’s best to check this fully as rules and regulations can change.
However, some of the frustrations can come about from an early stage, starting with the lengthy and sometimes complex issue of gaining planning permission. There’s also your self build mortgage application which is more complex than a residential mortgage and will likely take longer to be processed. Speaking of mortgages, interest rates are usually higher than a residential mortgage as there is greater risk to the lender and there are usually conditions placed upon self build mortgages by lenders to protect their risk
As with any financial decision you should take time to carefully consider your options.
Before you apply for a self build mortgage most lenders will require you to have certain things in place. This includes finding a suitable plot of land, obtaining planning permission and having detailed plans of the property drawn up along with a realistic projection of costs. Unless you already own the land, you will also need to have a deposit saved up and some funds put aside.
Enquiries
We have conversations, not algorithms.
Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.
Ready to go? We’d love to hear from you. Get in touch with our friendly and knowledgeable team.
Prefer to talk?
Call 0330 123 0723
Contact us
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