Build your own home
Self Build 1 Year Discount

Our Self Build 1 Year Discount Mortgage offers a discount of 1.59% off our standard variable rate (SVR), currently 5.34%, for a period of 1 year from completion, followed by our SVR applicable at that time. The interest rate charged won't fall below 2%.

Initial rate Overall cost for
Max % LTV Completion
3.75% 5.5% APRC 80% £499 View

Representative example

A Mortgage of  £72,567.00 payable over 16 years and 3 months (195 months) initially on a discounted rate for 1 year (12 months) of 3.75% and then on our current standard variable rate of 5.34% for the remaining 15 years and 3 months (183 months) would require 12 monthly payments of £497.53 then 183 monthly payments of £554.07. The total amount payable would be £108,509.48 made up of the loan amount plus interest (£35,018.48) and a £170.00 valuation fee, £499.00 completion fee, £30.00 CHAPS fee, £105.00 legal fees and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.5% representative APRC.

Key Features


Minimum £50,000: Maximum £375,000

Loan to Value (LTV)    

Purchase and Re-mortgage maximum 80% 

This maximum applies to the purchase / value of the land, whichever is the lower and to all stage releases - details available on request.


Minimum 1 year: Maximum 35 years

Stage releases

The Society will release funds in stages during the build process subject to satisfactory confirmation from the valuer (after purchase of land if applicable).

Product Switch  

On completion of the build (as evidenced by the final completion certificate), the mortgage product may be switched to another mortgage product within the Society’s prevailing range (subject to eligibility). The product switch fee relevant to the new mortgage will apply.

Completion of construction  

The Society will allow a period of 2 years from first release of funds to final completion of the property.


This mortgage product is available for applicants wishing to;

  • Buy land and build a new property
  • Raise capital and build a property on land that they already own
  • Convert an existing structure, such as a barn into a home
  • Purchase an existing property, demolish and rebuild

Property must be for the applicants own primary residential use in mainland England and Wales (geographical restrictions apply) as an individual project and not part of a group development. All applications are subject to the Society’s self-build criteria, general lending criteria, property value and satisfactory status enquiries.

This product is a limited edition and cannot be guaranteed until an application has been received and accepted for processing.


The arrangement of suitable buildings insurance is a condition of any mortgage offer made. For self-builds, the Society will require Site Insurance to be in place from Completion of the mortgage to completion of the build.  

Important Information

The interest rate charged won't fall below 2%.

Early Repayment Charge Fees How to apply