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Self-build mortgage Guide

We know a self-build project isn’t as straightforward as a standard house purchase, so you will need experts in the field to guide you through the process. At Progressive, we’ve been building relationships as well as funding the build of houses for decades.

Help to build your Happy Place

Our highly experienced advisors will be on hand throughout your project. We’ll review your case on an individual basis and bring flexibility to lending and staged payments offering loans up to 75% of the market value.

Build on local expertise

We know the local area and market inside out, so your self-build project couldn’t be in better hands.  

Feel right at home with Progressive

For over 100 years, we’ve been helping people in Northern Ireland find their happy place. We’re a building society, made up of local Members helping local people buy or build in our local community.

We only lend on properties and self-builds within Northern Ireland.

We have 12 branches with qualified Mortgage Advisors in every single one, so you can pop in and talk to us face to face about building your happy place.

Your step-by-step guide to Self-build mortgages

You’ve purchased the site, had the plans drawn up and approved and now’s the time to finance your future home.

Here’s a quick guide to the Self-build mortgage process:

  • You’ve chosen your site*;
  • Contact your local Progressive branch to make an appointment with a Mortgage Advisor;
  • At this stage, you’ll appoint a solicitor;
  • At your Mortgage Appointment, we’ll check any existing loans and out-goings, conduct an affordability assessment and complete an application form;
  • Once your application is approved, we’ll arrange for a valuer to visit the site, look at your plans and value accordingly;
  • We then send your offer of mortgage to your solicitor;
  • Once your mortgage is agreed, your solicitor will complete all the legal work and ask for funds to be transferred;
  • We provide the funds at each stage of the build;
  • Congratulations! Building is complete, and you can move into your new home!

* Please note that we do not offer mortgages for the purchase of sites. The site must be owned by you.

Self-build essentials

At Progressive, we know how eager you’ll be to keep things running smoothly! So, you’ll be pleased to know that all decisions are made locally, either in branch or at Head Office in Belfast.

Quick decisions mean speeding up the process.

To apply, simply book an appointment with your local branch to see the full range of options available. 

Remember to bring the following along with you:

  • Proof of identity; a current passport or driving license;
  • Proof of address; a utility bill or bank statement from within the last 3 months;
  • Proof of income; if employed, most recent P60 and last 3 months pay slips, if self-employed, last 3 years’ income details (such as HMRC tax calculations and overviews, SA302s and tax reviews or last 3 years’ accounts);
  • Bank details; last 3 months’ bank statements showing income and spending;
  • Details of any existing financial commitments; up to date balance of credit or store cards, personal loans and hire purchases;
  • Plans, planning permission, deed site map and schedule of costs.

Our Self-build Mortgage options

Different people have different requirements, especially when self-building. That’s why, at Progressive we work with you to get the right deal for your circumstances.

We offer a range of Variable Rate mortgages for Self-builds. A Variable rate means that your monthly payments could fluctuate, depending on the external market interest rates.

Each mortgage product covers a term of 2 or 3 years.

After this period, your mortgage will automatically switch to Progressive’s Standard Variable Rate, which may mean that your monthly repayments increase. We’ll write to you before this happens, inviting you to talk to us about switching to a better deal.

When you mortgage with Progressive we want to make sure you’re always getting our best deal.

Visit the self-build section for the most up to date Self-build discounts and deals.

Take Notes

Isn’t it funny how you always remember questions AFTER you’ve left the appointment? Why not have a think now and jot down the information that’s important to you such as: branch manager’s details, appointment times and any queries you may have.

Property construction either registered with NHBC or supervised by a suitably qualified professional consultant with current Professional Indemnity Insurance. All mortgages are subject to the Society’s lending criteria and terms and conditions applicable at the time of application.

Speak to our team today

We’d love to talk you through the mortgage process and help you find a suitable product. For more information or to apply, you can call us, email us, pop into one of our 12 branches. We look forward to hearing from you.

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