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self-build

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  • 05-05-2015 11:15am
    #1
    GenGenie
    Registered Users Posts: 37 ✭


    Hi,

    Just a general question - do you need a deposit to get a mortgage for a self build when the site is in your name.
    My husband also has a site in his name in another county so can these both be used as deposit.

    We have small children so its hard to save with childcare fees etc.

    Any suggestions ?

    Thanks


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    #2
    somesoldiers
    Registered Users Posts: 13,844 ✭✭✭✭somesoldiers


    I may be corrected on this but I was recently told by EBS that the site I was buying could be used as the 20% deposit for a self build


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    #3
    runawaybishop
    Registered Users Posts: 9,507 ✭✭✭runawaybishop


    GenGenie wrote: »
    Hi,

    Just a general question - do you need a deposit to get a mortgage for a self build when the site is in your name.
    My husband also has a site in his name in another county so can these both be used as deposit.

    We have small children so its hard to save with childcare fees etc.

    Any suggestions ?

    Thanks

    It'll depend on the loan to value ratio. If your site is worth a fair bit you have more wiggle room. If you cannot afford to save a deposit though it does not look favourably for you with regards to stress testing.


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