Harpenden Building Society brings back two self-build loans 

Harpenden Building Society has brought back two self-build mortgages.

The mutual says its standard self-build loan up to a maximum of loan to value of 70% repayment and interest only and its short-term self-build up to 70% LTV interest only, are exclusively available through Mayflower Mortgage & Finance.

Mayflower Mortgage & Finance works with brokers to source products for self-builds, renovations, conversions and commercial developments.

Product highlights include:

• 65% LTV for loans up to £1.5m in England and Wales
• 70% LTV for loans up to £999,999, where the building project is professionally managed
• Barn conversions available for new builds, knock down and rebuild, or for the purchase of land with planning permission
• New builds on owner-occupied land
• The firm will consider flexible construction types, subject to valuer comments
• Self-build retention releases are not linked to stages
• Refurbishments are permitted, such as converting a house that is currently divided into two flats, back into a single dwelling
• Up to a maximum of three properties can be built, one must be the subsequent main residence
• Switching to a standard residential rate is available once the build is complete
• And a short-term product option is available, with no early repayment charges after the first year