Build The Dream Home You Always Dreamt Of
Well one way is to build your own, and to do that you are more than likely going to need a home building loan. Today's financial products have become more flexible and geared to the needs of lenders.
As an example, when you look at personal loans, not the ubiquitous highly competitive unsecured loans, which are offered by almost every single lender. The unsecured type are normally never offered over £25,000.00, which won't really help with a full building project. A better alternative are the personal secured loans, these are geared to the equity that you have in your existing property and will reflect a better interest rate. This type of loan will release equity to get you started, and will need to be factored in when you finally come to sell on.
A self build project can save 20-30%, as you make savings that the builder would normally build in for himself. There are specialist lenders who have specific products with the benefit of staged payments for example. With these you draw down the required proportion of the whole only as and when it is needed. This also means that you are only paying interest on the part of your home building loan that you are actually using.
Finding the best secured loans, or specialist self build products is all down to thorough research. Just as is the critical step of finding the right plot to build on or sourcing the quality building products at the right price. So before you commit to a second mortgage home loan or the like, do your homework on all aspects of building your dream home, not just the variance of one investment property loan compared to another.
10 other important things to research and cover
Planning
Architects
Design
Building Materials
Tradesmen
Heating methods
Building Regulations
Insurance
VAT Reclaim
Alternative building methods
Related Tags: unsecured loans, personal loans, financial, home building loan, building loan, building project, per
Brian Long is the the author of numerous articles. He has an MBA and writes about various finance and investment related topics. For more information on a Holiday Home Loan Online, Investment Property Loan, Home Building Loan, Business Investment Loan or Second home investments visit (Second Home Loans). http://www.2ndhomeloans.co.uk Your Article Search Directory : Find in Articles
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