You are here: Home - News -

85% of borrowers considering self-build, says N&P survey

  • 23/04/2002
  • 0
In its annual survey of customers' home-build aspirations, Norwich & Peterborough Building Society (...

In its annual survey of customers’ home-build aspirations, Norwich & Peterborough Building Society (N&P) has revealed that 85% would consider, or have considered, having a home built to their specifications ‘ up 15% on last year. Of those who have already completed a self-build project, 63% said they would do it again.

The self-build figures from N&P show that from 1995 to 1999 the number of self-build mortgages with the lender increased by 700% ‘ and it is continuing to grow. The market is thought to consist of around 20,000 properties a year, with one in five houses constructed in Britain being self-built.

Alison Rolls, head of communications at N&P, said: ‘It is not an off-the-peg region of lending. IFAs do not need a specific background or training to step into this market.’

When asked about the main factors they would consider when choosing a location, 33% of respondents said local amenities would be the main consideration, 25% would choose to be near their family, while a further 21% would aim for a dream location.

Highlighting the differences between mainstream lenders and self-build specialists, Rolls said: ‘Normally when buying a home customers approach a lender knowing what they have to pay, but this not always the case with self-build. With self-build the first thing customers may wish to mortgage is the land, and not all self-build lenders will lend on land. Payments are made as the property is being built, so interest is not paid on property that does not exist, meaning the relationship between the lender and the client is longer.’


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.

Read previous post:
Credit reference agencies are to appeal controversial court ruling

Credit agencies are struggling to obtain client details from the electoral roll