Finance for everyone.
BuildStore Mortgage Services is delighted to be partnering with Custom Build Homes to provide you with a range of borrowing options, including exclusive mortgages designed to fund your custom build home at Callum Park.
BuildStore is the UK’s leading mortgage brokerage specialising in mortgages and finance, designed specifically for homebuilding projects. We’ve helped more than 30,000 customers successfully fund their projects over the past 25 years, and our knowledge of construction and homebuilding finance is second to none.
BuildStore Mortgage Services offers a range of exclusive mortgages that are suited to custom build homes, and we are the main mortgage provider on most custom build sites that have been brought to market in the UK.
Arrange a FREE, no-obligation call to discuss your funding options at Callum Park.
How it works.
Step 1. Submit Plot Offer
Submit an offer for your desired plot and house type at Callum Park.
Step 2. Offer Accepted
Once your offer has been formally accepted, if required, BuildStore will help you arrange your mortgage offer.
Step 3. Financial Qualification
Custom Build Homes will introduce you to one of BuildStore’s friendly mortgage advisers. They can assess your financial qualifications for the development and assist you in setting your budget.
Stage Payment Mortgages.
As your new home at Callum Park will be built to meet your own individual style and requirements, payments are made at several stages throughout the build process. This is known as a stage payment mortgage.
There are two types of stage payment mortgage available: valuation-based and cost- based. With a custom build, a cost-based approach is generally more suitable because the stage payments are agreed at mortgage application, tailored to your bespoke home’s cost, and guaranteed.
Funds can either be released before or after each build stage, depending on your payment schedule. With a cost-based mortgage, there are no valuations during the build, simplifying the process and providing certainty for all parties involved, as payments are guaranteed and cannot be impacted by a low point valuation during the construction phase. Cost-based mortgages are exclusively available from BuildStore.
Example payment structure:
| Stage 1 | Purchase of land |
| Stage 2 | Frame erected |
| Stage 3 | Wind & watertight |
| Stage 4 | First fix & plastering |
| Stage 5 | Second fix to completion |
| Stage 1: Purchase of land |
| Stage 2: Frame erected |
| Stage 3: Wind & watertight |
| Stage 4: First fix & plastering |
| Stage 5: Second fix to completion |
Other borrowing options
A stage payment mortgage isn’t the only way to fund your custom build. There are other borrowing options available that might be more suited to you, which BuildStore can advise on.
If you have enough equity in your current home or own it outright, you could remortgage or secure a bridging loan* to fund your custom build home at Callum Park. Then when your new home is finished, you can sell your existing home to pay off the loan. This way you can stay in your current home during the build and avoid the upheaval of moving, or renting during the build.
It’s important to note that a regulated bridging loan* secured on your main residence has a maximum term of 12 months, this means you must complete your new home and sell your old home in this time to repay the loan.
