Mortgages for Barn Conversions
Our Mortgage Service - helping you make the right decision
Special features of what we offer include:
- Whole of market service - we work with leading building conversion mortgage lenders
- Short term finance options for quick purchase
- For investment properties we have access to specialist development finance lenders for barn conversions
- Fast turnaround - speak to us today if you need to move quickly
- We have lenders who will take into account previous defaults and missed payments
To investigate your finance options for barn conversion projects call our mortgage and bridging finance team on 0117 313 7780 or fill in our call back form.
Compare Mortgage Deals For Barn Conversions
A barn conversion project can be a very attractive proposition to people who don’t mind a challenge. Barns available for conversion are often situated in stunning rural locations and can offer a unique and cost-effective way to get the home you want – provided that you are prepared to put the work in! Even before the conversion process commences, it’s vital to get the correct finance in place to fund your barn conversion project.
Getting the right mortgages for barn conversions
With any conversion or renovation project, securing the correct finance is usually the first step in the road to success. However, a large number of standard high street mortgage providers will provide mortgage deals only for properties that are in a habitable condition i.e. that can be lived in without significant renovations. ‘Habitable’ is usually defined by mortgage providers as a building that is secure, weatherproof and has plumbing and power.
Generally speaking, a barn is unlikely to be any of these things – so you will probably need to get hold of a specialist mortgage deal in order to convert a barn into a home. If you want to buy and convert a barn that is in a derelict state, you will have to approach a specialist lender.
Mortgage deals for barn conversion projects
If you are planning to convert a barn into a habitable dwelling, your mortgage requirements may well differ from those of a more conventional home purchaser. For example, you may find it more beneficial to get your mortgage funds gradually – first to finance the purchase of the barn, and then to fund the renovations – rather than as a single sum.
Some mortgage providers may offer to lend you up to 95% of the purchase and building costs in total, but this will very much depend on your personal circumstances. Our specialist mortgage team can help you to find the right barn conversion mortgage deal for you.
You may be able to get the necessary funds released for each stage of the build to allow you to purchase building materials and pay building workers and tradespeople. As an example, you may be able to get a mortgage provider to release the money for your barn conversion project in instalments, such as:
Release of the necessary funds to buy to barn. Bear in mind that you will need to prvide the deposit to do so, as with any mortgage deal.
The initial cost of basic renovations on the barn structure i.e. making the existing structure secure and weatherproof. This may include roof repairs and wall renovations.
Final touches, such as making the barn conversion fully inhabitable with plumbing, wiring and decorating.
Find barn conversion mortgage deals
Although they are becoming more widely available as enthusiasm for do-it-yourself home purchases increases, barn conversion mortgages are still a fairly specialist product. For this reason you will need to be prepared to approach specialist lenders who have expertise in lending on barn conversions. Our dedicated whole of market mortgage team can help you to locate the right barn conversion mortgage deal for you – call us today on 0117 313 7780 or complete our callback form.