Additional Product Information

About the Self Build scheme

The Self Build scheme offers products to customers wishing to build their own home.

• Available to employed and self employed applicants.
• Maximum loan to value is 75% of the final valuation amount. The policy is to release a maximum of 75% of the land value and then 75% at each stage.
• The funds are stage released in arrears, subject to a satisfactory reinspection.

About the House 2 House scheme

The House 2 House scheme enables customers wishing to rent out the property to do so, with lending based on earned income rather than rental assessment.

• Available for purchase or remortgage.
• No minimum income on first property application.
• Up to 3 properties can be mortgaged within this scheme.

Free Remortgage Service (where applicable)

The Free Remortgage Service is available on all properties in the UK, using Birmingham Midshires designated remortgage service through Enact.

An additional charge will be made for any non-standard legal work including deeds of postponement, transfers of equity and registering of title. Any additional charges will be advised by Enact to the borrower prior to the work being carried out.

Please note remortgage products offering the Remortgage Service and other incentives must be taken as a complete product.

Cashback

Provided as a telegraphic transfer on completion

Free valuation (Max £490)

To qualify for a free Valuation, Birmingham Midshires must instruct the valuer. Colleys will be instructed via BM Solutions for all valuations.

Refund of valuation (Max £490)

A refund of no more than £490 will be paid by telegraphic transfer upon completion. Any charges above this amount will not be refunded. All conveyancers must be on the Halifax panel of conveyancers and will also be instructed to act on behalf of Birmingham Midshires.