The Nottingham increases max self-build LTV
Nottingham Building Society has increased its maximum self-build loan-to-value to 75% on the purchase of the land and 80% of the building costs.
The society, which offers self-build in partnership with BuildStore, will now also consider joint venture developments where there are fewer than 16 properties and developments where the existing property is being demolished.
Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “After a cautious entry into the self-build market in March we now believe the time is right to open up our criteria.
“At The Nottingham we have a growing appetite for specialist niche lending and these enhancements will enable more self-builders to secure the right type of funding for their bespoke home projects.”