Nottingham Building Society has increased its maximum LTV and widened criteria on its self-build mortgages.
Self-builders will be able to borrow up to 75 per cent LTV on the purchase of land, and up to 85 per cent LTV of the final value of the property.
The previous LTVs were 65 per cent and 75 per cent, respectively.
The lender will now also consider joint venture developments where there are fewer than 16 properties.
It will also consider developments where existing property is to be demolished.
Nottingham head of intermediary sales Nikki Warren-Dean says: After a cautious entry into the self-build market in March we now believe the time is right to open up our criteria.
“At the Nottingham we have a growing appetite for specialist niche lending and these enhancements will enable more self-builders to secure the right type of funding for their bespoke home projects.”
