- Financing a Renovation or Conversion
- How Renovation & Conversion Mortgages Work
- Compare Advance and Arrears Mortgages
- BuildStore Accelerator Mortgage Scheme
- Renovation & Conversion finance FAQs
- Protecting Your Mortgage
- Renovation & Conversion Mortgage Rates
- Tools and Calculators
- Finance Articles
- Mortgage Jargon Explained
Accelerator Makes Renovations & Conversions Happen
Do you dream of renovating a run-down property or converting a disused barn? Think you can't afford it? Think again!
With Accelerator, for a conversion or renovation project, you can borrow up to 95% of the cost of the property, and up to 95% of your build costs, compared with 85% offered by most other providers.
With an arrears mortgage, the cost of starting renovation work, and keeping work progressing in between the release of stage payments, is typically funded through savings, loans, and credit from suppliers. BuildStore's Accelerator is the only mortgage to give you money before each stage of your project starts, meaning you have the cash to pay for labour and materials before the work begins.
A further plus of Accelerator is that your stage payments are not subject to confirmation by a mortgage valuation at each stage (although some lenders reserve the right to ask for an interim valuation later in your project to check on progress). With an arrears mortgage your lender will require a valuer to visit the site at the end of each stage and submit a report to the lender before they will release any money.
Features |
Benefits to you |
|---|---|
Borrow up to 95% of your property and build costs. |
This allows you to get your project underway with only a 5% deposit. This low deposit requirement means there is no need to sell your existing house to raise money before your new house is complete. |
Stage payments made in advance of each stage of the build. |
Having money when you need it puts you in a stronger negotiating position when buying materials and labour and lessens the risk of workmen leaving the site because they have not been paid. |
Range of lenders and interest rates. |
BuildStore works with a number of different mortgage lenders, including the Bath Building Society, Hanley Economic Building Society, Saffron Building Society, Ipswich Building Society and Melton Mowbray Building Society to ensure you can choose a mortgage type and interest rate to suit your particular circumstances. |
Purchase of a property for conversion with only outline planning |
With an Accelerator mortgage you can move quickly to secure your ideal plot without the requirement of detailed planning permission. |
Tools and calculators
Try our Mortgage Calculators and Tools. Get an estimate of the build costs for your project using our handy build cost calculator or calculate your monthly repayments on any of our exclusive mortgage products, both during and after your build.
