All of the products in the range provide funds to the client in stages as construction of their property progresses and are designed to remove the main risk to self-builders – lack of cashflow.

The amount released is based on the cost of each build stage and removes the risk of stage releases being limited by a lender’s valuation. The products are for loans of up to 85% of the client’s build costs.

This new range includes an advance stage payment product which provides funds at the beginning of each stage of work. This is a useful finance solution for those self-builders with less of their own cash available.

The other two products provide funds on completion of each build stage including one for high value builds offering loans up to £1 million.

To keep costs down during the build, the products are interest-only for the initial two-year build period then convert to repayment.

Chris Martin, Head of Product Development and Underwriting at BuildLoan, commented: “These new products in partnership with Buckinghamshire provide our clients with some great options. We are seeing more demand for higher value loans so the ability to lend up to £1 million is a great solution and will hopefully be well received by brokers.”

Claire Askham, Key Account Manager (North & Midlands) at Buckinghamshire Building Society, said: “We are thrilled that we are able to bring back self-build mortgages as part of our lending proposition. This new range will appeal to a variety of self-builders, particularly those with lower up-front funding as we will lend up to 85% of the build cost.”