The extension of Hanley’s self-build and residential product range into Scotland in April 2019 was heralded as one of the major driving forces behind this growth.

But Hanley Economic said its ‘build for second home’ product, which is aimed at self-builders looking to construct a second residential home, was also key to its ongoing success.

As was the lender’s ‘part-complete’ self-build product, aimed at borrowing for projects which were already underway. Both products were launched in December 2019.

Hanley Economic has also updated its self-build guide to ensure intermediary partners and their clients are better educated and informed on the self-build market during the current economic climate.

The guide will now include:

• A full costings calculations sheet
• An application checklist
• Ongoing lending criteria
• Extensive listings of acceptable and unacceptable self-build property types

Sue Pedley, business development manager at Hanley Economic Building Society, said: “This gradual uplift in self-build business has been generated over a lengthy period, meaning these figures are certainly no flash in the pan.

“It’s clear that existing homeowners are looking to take greater control over their ever-changing property needs, first-time buyers are also less phased by the self-build process and modern methods of construction continue to push home building boundaries. Factors which suggest that the appeal of self-build is only likely to rise.

“As a lender who is passionate and committed to self-build, we’re proactively engaging with an increasing number of intermediaries to highlight the types of self-build options on offer and break down the processes to demonstrate that this area of lending is not as intimidating as many people think.

“With that in mind, I urge intermediaries to speak to lenders about the support they can offer which will enable more of their clients to achieve their self-build dreams.”