Your home may be repossessed if you do not keep up repayments on your mortgage
Good to know
- Designed to help you keep costs to a minimum during the build period
- No early repayment charge, and no restriction on overpayments
- We can lend you as little as £10,000
- You can repay the loan over 6-18 months
Need to know
- Whether we provide credit depends on your circumstances, and you must be 18 or over - lending terms and conditions apply
- Your home is security for your mortgage, and you may also need to provide other security
- When the build is complete you’ll need to take out a mortgage or repay the loan
- We charge a fee for this product
- Your repayments may go up as well as down
A loan of £156,000 payable over 18 months on our rate of 4.95% variable would require 18 monthly payments of £642.95.
The total amount payable would be £167,573.21 made up of the loan amount plus interest (£11,573.21). A product fee (£1,560), valuation fee (£275) and mortgage exit fee (£125) are also payable.
The overall cost for comparison is 6.0% APRC representative.
The actual rate will depend on your circumstances, please ask for a personalised illustration.
Terms and conditions
- If you choose a Self Build Home Loan, meeting the terms and conditions of your mortgage contract does not ensure repayment of the total amount of credit.
- When the build is complete, if you decide not to convert to a Danske Bank residential repayment mortgage you will be required to repay the outstanding capital to us.
- You will have to pay for an independent professional valuation. We will arrange this for you.
- You may have to pay fees such as legal charges, which are not paid through us.
- You must have adequate buildings insurance in place on your property. You do not have to arrange this through us.
- For full details on charges please see our Tariff of Mortgage Charges.
- If your mortgage term takes you beyond normal retirement age, we may ask you to provide us with evidence that you’ll be able to afford your repayments after you stop working.