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Buildloan says ‘dramatic increase’ in self and custom build volumes on way

by: Mortgage Solutions
  • 11/07/2018
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Buildloan says ‘dramatic increase’ in self and custom build volumes on way
The government’s objective with the Right to Build legislation is to ensure that self and custom build accounts for around 30% of new housing in England, which is likely to drive a dramatic increase in enquiries, said an expert.

Buildloan ran a series of roadshows exploring the opportunities to come.

Raymond Connor, BuildLoan CEO, said: “The bulk of enquiries will come from sites with multiple plots – custom build sites. These sites will generate business opportunities which will require a spread of lenders and specialist products to meet the specific needs of self and custom builders.”

He added mortgage brokers would do well to hone their expertise in this field in particular the nuances of cash flow during the build.

On the road

Buildloan roadshows have been to brokers in Swindon, Derby, Warrington and most recently Solihull, Manchester, Maidstone and Essex.

Lenders which attended the roadshows include Darlington Building Society, Bath, Mansfield, Newcastle, Stafford Railway, Furness, Chorley, Dudley and Tipton & Coseley Building Societies, as well as Virgin Money, Affirmative, Amicus and Precise Mortgages.

Julie Hanif, intermediary relationship manager at Buckinghamshire Building Society said: “Many advisers fed back to me that they had got a lot out of the day in terms of feeling more comfortable with the concept of self build which would give them the incentive to look for more business in this fast-growing sector.”

Buildloan will be announcing more roadshows shortly.

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