With house prices continually on the up and up more and more people are looking at the option of building their own home. Not only is there hope of getting better value for money but you can also get to design the home of your dreams.

Stage payments mean you only drawn down money when you need it during the construction of your home, therefore, you pay less interest.  The construction must be supervised by a qualified Architect or Civil Engineer.  The supervisor will provide you with certificates at the various stages of construction and when these are forwarded to Metropolitan Finance we will ensure that your stage payment is forwarded to your Solicitor.  A valuation is required before construction commences and when the property is fully completed.

You can borrow 100% of your site and building costs provided your total borrowings do not exceed up to 90% of the property's valuation (depending on the institution – some will only allow 70%) at any time. Hence, your first stage payment cheque to purchase the site will be for a maximum of 90% of the purchase price of the site. Once building begins you can recoup the 10% as the property valuation increases.

You will need ‘course of construction' insurance cover on buildings (liability not covered) Metropolitan Finance will advise you on this once you have received your approval in principle.

Complete the application on line.

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