"They are nothing like a normal mortgage as payments are made at various stages of the build so understanding the complexities is vital for both brokers and borrowers."
finova’s club members now have access to self and custom build mortgages including renovations, conversions, knockdown rebuilds and extensions.
BuildLoan provides intermediaries with a range of exclusive self and custom build products through its specialist panel of lenders as well as offering bridging and development finance.
Its mortgage solutions maximise cash available at every stage release of a client’s project with features such as higher lending percentages, advance stage payments and cost based lendingBuildLoan recently launched its Unicus mortgage platform, allowing brokers to research and source the right product for clients and arrange their finance online.
Melanie Spencer, head of finova Payment & Mortgage Services, commented: “Self and custom build mortgages are a niche area of lending that requires expert advice. They are nothing like a normal mortgage as payments are made at various stages of the build so understanding the complexities is vital for both brokers and borrowers.
“Partnering with BuildLoan is the obvious option for brokers who can speak to qualified self-build mortgage experts that understand the complex and specialist nature of self-build finance.”
Stu Bryce, head of intermediary lending at BuildLoan, added: “Technology is at the heart of finova’s proposition, which is something we have in common.
“Our new Unicus system allows for a unique lender match process based on the client’s proposed project. It takes into account all the nuances of a self or custom build project to ensure the most suitable mortgage is chosen from our panel of specialist lenders.
“We look forward to working with brokers via finova and are happy to assist with any queries and applications via our dedicated broker help desk.”
