Advance Stage Payment Mortgage
Ian and Bronwen Lebbon, a semi-retired couple from North Wales, loved the location of their existing home so much, they decided to build a magnificent home in their spacious south-facing riverside back garden with spectacular views over the Welsh valleys.
Ian and Bronwen selected their Potton 'Rectory' timber frame house because the style complemented their existing home (the village rectory), and it sat well in the beautiful Welsh landscape. When looking at financing their project, the Lebbon's first approached local high street building societies, but weren't able to fund one to for their project.
Their own bank was more willing to lend to them, based on the large amount of equity tied up in their existing property, however, the finance was all up-front and at a very high interest rate. Ian wanted a smoother flow of funds for his project.
He says "We visited lots of exhibitions, searched online, read magazines and BuildStore's name cropped up all the time as the logical place to go. Nobody else offered advance stage payment mortgages or all of the many other services and extras they offer.
We visited the National Self Build and Renovation Centre in Swindon and it was so nice to have somebody really interested in what you were doing, rather than just interested in selling to you!"
Ian says "Without BuildStore's help, we would have struggled and could not have built this spectacular house. It's stressful enough trying to build a house, without having to worry about the finances. The smooth flow of the Accelerator worked for us. I knew exactly what I was working with, and what money I would get for the next stage. I could pay my bills and keep things moving, and as soon as we certified the individual parts of the build, we got the next stage of money through.
The Lebbon's build was completed in 18 months at a total cost of £382,000 - a build cost of around £80 per sq ft. Their house is now valued at around £750,000. They have no plans to do another self build - they say wild horses wouldn't drag them away from such an idyllic spot!
BuildStore helped these people create their dream homes – contact us now to find out how we can help you.
