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Self-build Mortgages 'still Available' |
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(20th May 2008)
The value of self-build properties has again been advocated, this time with homebuilding.co.uk explaining that funding is still available for projects.
Editor of the website Jason Orme has spoken about self-build houses, which could suit those looking for the best mortgage deal during the credit crunch.
Mr Orme said: "Self-builders tend to benefit up to 25-30 per cent in terms of the equity - the cost of the mortgage compared to the end value [of the house]."
He added that, as lenders see such projects as a 'safe bet' they are more likely to offer deals such as 90 to 95 per cent mortgages, for loan-to-value.
Meanwhile, one issue which could face those undertaking a self-build project is the skills shortage, which nine out of ten construction industry workers believes is affecting the UK, according to research from the Chartered Institute of Building.
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