We were recently approached by clients who owned a plot of land and were looking to build their new home on it. They already had development finance in place, and came to us to find their main residence exit for this property.


Immediately, adviser Molly saw an opportunity for the clients to save money. Due to the type of project they had planned, development finance was a much less cost effective option. As a result, Molly recommended that they explore a self-build main residential mortgage.

Upon researching the client’s case in more detail, it became apparent that due to the build including a flat sedum roof, lending options were instantly limited. Alongside this, there were two other residential properties of which NEITHER were to be sold on completion, and only one would be rented, as the other would be used the clients main residence until the build completes, at which point it would then be sold. Despite the inevitable sale on build completion, the lender was left slightly concerned with how they would afford all three mortgages. Molly worked tirelessly with the clients in order to present comprehensive details of additional savings, investments and Estate Agents rental and sale expectation, which offered the lender the required reassurance to proceed.

In addition to the lending complexities, Molly was constrained by timescales. The clients needed to secure the finance as soon as they were able to – they had builders ready to go and did not want to delay building works any longer than necessary, with foundations required to be dug out prior to the winter frost hitting.


With all aspects of this case considered, Molly was able to secure funding with Furness Building Society within three months of the client’s initial enquiry. In addition, she saved them a lot of money in comparison to the development loan offer they already had on the table. Needless to say, the clients were very happy, and cannot wait to build their dream home.


Molly Smith