Vernon Building Society has reduced the pricing across its entire self-build mortgage range by 0.15%.

The current range with reduced rates includes the BuildLoan 1.85% Lifetime Discount at 5.75% at 80% loan-to-value (LTV) with a fee of £1,999, 2% ERC for one year and comes with stage-release funding up to 85% per stage.

In addition, BuildLoan (accelerator) 1.66% Lifetime Discount has been lowered to 5.94% at 80% LTV with a fee of £1,999, 2% ERC for one year (stage-release funding up to 85% per stage) and BuildLoan large loan 1.76% Lifetime Discount has been cut to 5.84% at 70% LTV with a 0.25% fee, 2% ERC for two years (stage-release funding up to 70% per stage).

The society’s Mayflower 1.85% Lifetime Discount has been lowered to 5.75% at 80% LTV with a fee of £1,999, 2% ERC for one year (stage-release funding up to 75% per stage) and the Mayflower large loan 1.76% Lifetime Discount has been reduced to 5.84% at 70% LTV with a 0.25% fee, 2% ERC for two years (stage-release funding up to 70% per stage).

The Vernon’s self-build mortgage range has been designed to support a wide range of projects, including modern and non-standard construction, conversions, renovations and rebuilds.

The products offer stage-release funding of up to 85% per stage, with interest-only payments during the build.

Vernon Build Society head of mortgage and savings distribution Brendan Crowshaw says: “Self-build projects are often highly individual and can be complex, so we’ve designed our lending to be as flexible and practical as possible.”

“By reducing pricing across the range, we’re improving competitiveness while continuing to support customers with a personal, specialist approach that helps them bring their homebuilding plans to life.”