Pink Home Loans has joined forces with BuildStore, which provides mortgage products and related services to the self-build and renovation market.
The addition means that BuildLoan, a mortgage product designed for the self-build sector, is now available through Pink Home Loans. BuildLoan is the only self-build mortgage available to intermediaries that releases money at the start of each stage of the build. Clients can borrow up to 95% of the cost of the land or the property they want to renovate and 95% of the cost of the building work.
Tony Jones, managing director at Pink Home Loans, said: ‘Self-build is a growing area of the market with 20,000 people now building or renovating their own home each year and 25% of all new detached homes being self-built. This niche area offers many opportunities to the intermediary market and Pink is keen to assist by offering a mortgage from a market-leader.’