Based in Suffolk, Ipswich Building Society specialize in providing mortgages for self build homes, operating a manual underwriting system that allows them to take each customer’s individual circumstances into consideration.
The Society surveyed more than 2,000 British adults about their plans, considerations and challenges for self builds and found that 1 in 3 people are considering a self build project at some stage in the future.
One of the key motivating factors for those interested was the ability to design the layout of their own property, whilst environmental and financial reasons were also high up the list. Financing the project was seen as the biggest challenge by potential self builders, and 1 in 5 respondents were concerned about finding a suitable plot, as well as appointing the right contractors to do the work.
Find more stats and information from our recent research in our infographic:
Infographic Source: https://www.ibs.co.uk/blog/mortgages/celebrating-right-to-build-day-a-look-at-the-self-build-property-market-2020