BuildStore offers finance for those undertaking self-build, custom build, renovation and conversion projects and will be the sole provider of mortgage advice to L&C’s homebuilding customers as part of the partnership.

The partnership acknowledges the “concepts of delivering good outcomes and avoiding foreseeable harm”, which were embedded in Consumer Duty last year.

L&C said that it recognised the “need for expert advice in more complex borrowing areas to make sure the rules are complied with, and consumers achieve the best possible outcome”.

BuildStore’s products include over 60 guaranteed stage-release mortgages designed with their long-standing lender panel.

The stage-release deals do not need formal valuations and have no loan-to-value (LTV) limits during the build. This limits the risks associated with traditional self-build mortgages that can require an “uplift in value” before the lender releases the money.

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The stage-release structures are linked to stage releases to pre-agreed build costs and to ensure the customer gets their funds when they need them.

Raymond Connor, CEO at BuildStore, said: “Self-builders’ finance needs vary hugely depending on their personal circumstances and the project they’re undertaking. We provide customers with expert advice to find the right product for their project. In addition, we support them right through their build. We also make sure they’ve costed their project accurately so that they get the money they need at the right time to cover their costs and get their home completed.

“This deal recognises the importance of expert advice and support in the post-Consumer Duty era and we expect this to be the first of many similar collaborations.”

Simon Hendy, chief relationship officer at L&C Mortgages, said: “We’re delighted to launch this partnership with BuildStore. We’ve been focused on improving and broadening the service that we offer our customers. Working with BuildStore will offer greater support to our advisers in meeting their customers’ self-build and refurbishment requirements.

“BuildStore stands out as a partner that excels in its field and sets standards that will dovetail perfectly with the high standards that L&C customers expect. We look forward to working with BuildStore in a market that we expect will only see further growth.”

L&C signed a specialist finance partnership with Propp.io for customer referrals with specialist property finance needs and has also established partnerships with Brilliant Solutions and Perenna.