Self Build Mortgages from UK - Kent Reliance Building Society

A loan to finance the building of your home
7.59% (variable)

Rate correct as at 1 April 2008
Not available for shared ownership/shared equity

	Loan to value
	Maximum loan to value - 75% of total value 25% of land value (with planning permission and building consent)
	Fees
	Valuation fee per scale. Administration fee £60, Re-inspection fee £75 (up to 4 re-inspections)

	Self build Q&A
	For self build - planning permission and building consent Click here
	Interest charged
	Monthly
	Early repayment charge - None
	What happens if you move house ?
	Our mortgage products are portable. The benefits of your mortgage can be transferred to your new property at any time (subject to our lending criteria at the time of any future move).

Extra features

	Monies released in stage payments, subject to re-inspection
	Architect's certificate, foundations 15 or NHBC is required
	Whilst the property is being built the Standard variable rate will be charged
	When the property is complete the base rate tracker will be charged

Notes

	Standard variable rate is our basic mortgage rate
	The Administration and Valuation fees are payable on application
	Re-inspection fee is payable as construction reaches each of 4 defined stages
	Other fees and charges may apply during the term of the mortgage
	Minimum age 21

To calculate an APR and typical loan example we have made the following assumptions:

	A Standard variable rate of 7.59% p.a.for the first 3 years
	Base rate tracker rate is charged from beginning of year 3 (currently 6.25% variable) for the remainder of the mortgage term
	A loan of £75,000 over a term of 25 years, repayable by 300 monthly payments of capital and interest
	Purchase or remortgage of a property for owner-occupation valued at £100,000
	Administration fee - £60
	Valuation fee - £125
	Re-inspection fee – 4 at £75 each
	CHAPS bank transfer fee - £35
	Solicitors mortgage charges - £103 (purchase - estimated and only part of conveyance costs)
	Redemption admin fee - currently £150

Typical loan example
Initial monthly payments (36 months)	£558.64
Subsequent monthly payments (264 months)	£499.75
Total charge for credit	£77,818
Total amount payable (TAP)	£152,818
The overall cost of comparison is	7.0% APR (variable)
Correct as at 1 May 2008

For more information about our mortgages go to Useful Info/About Our Mortgages

All loans are subject to availability, status, valuation and approval, and are available in England and Wales only. Applicants must be aged over 18 unless otherwise stated and security will be required on property. Written quotations available on request.

Mortgage Payment Protection Insurance may be required and a Higher Lending Charge may be payable. Calls to Kent Reliance Building Society may be recorded and/or monitored for customer service and training purposes.

Kent Reliance Building Society is authorised and regulated by the Financial Services Authority for general insurance and regulated mortgages and is covered by the Financial Ombudsman Service. Kent Reliance Building Society, Reliance House, Sun Pier, Chatham, Kent ME4 4ET.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.