Beverley Building Society has unveiled a ‘Breaking Ground’ policy update for the self-build community.
The mutual has announced a substantial enhancement to its self-build mortgage proposition. Effective immediately, Beverley Building Society will now allow lending on land, providing greater flexibility and support throughout the self-build journey.
This policy change reflects the Beverley’s stated dedication to meeting the diverse and unique requirements of those looking to build their dream homes.
As part of this change, Beverley Building Society now offers lending on land with full planning permission.
For lending on land there is a maximum 50% LTV. Once the build has commenced, the maximum LTV must not exceed 80% at any stage.
There must be at least 12 months remaining on the approved, full planning permission.