Our Privacy Policy

This notice is being provided to you because we are just about to collect personal data from you. It is issued by New Mortgage Finance Limited, trading as NM Finance. It explains how we use your personal data.

Lawful conditions for processing personal data

We will only process your personal data when we meet one of the following lawful conditions:

When we have a lawful contract with you;
When it is our legal duty;
When we have a legitimate interest;
If we need to act in your vital interests; or
When you have provided us consent to process it.

If we process your personal data that has been obtained from someone other than you, we will let you know without undue delay.

Who is collecting your personal information

NM Finance, Portal House, 7b Alkmaar Way, Norwich International Business Park, Norwich, NR6 6BF. The point of contact for all personal data related queries is the Data Privacy Manager.

Why we collect your personal information

We collect personal information provided by you to enable us to create a contract with you which we then fulfil in accordance with the terms and conditions of the contract and our Data Protection Policy. We also need to collect your personal information to meet the legal & compliance obligations placed upon us.

Your information may also be used for other specific purposes but only after you have given your consent, for example, to receive newsletters.

Automated decision

When obtaining a Decision in Principle (DIP), also referred to as an Agreement in Principle (AIP), we submit your information via the Lender’s online automated decision-making process. We do not use any in-house automated processing mechanisms.

Who we may share your information with

We share your personal data with the appropriate:

Credit reference agencies;
- NM Finance conduct credit checks through TransUnion (formerly Callcredit), for further information about TransUnion and the information it holds click the link below:
  https://www.callcredit.co.uk/legal-information/bureau-privacy-notice
Fraud prevention agencies;
UK regulators and other legal authorities; and/or
Appointees who are instructed to act on your behalf, for example a solicitor.

We will never sell or share your information with marketing companies.

Security of your personal information

We take all reasonable technical and procedural precautions to prevent the loss, misuse or alteration of your personal information. All business data is stored off-site on a server at a secure location and managed by a trusted third-party contractor. NM Finance Ltd do not operate internationally; our business services are limited to the United Kingdom.

Retention of your personal information

We will retain your information for as long as it is needed to provide you with our services and manage our relationship and also to comply with our legal obligations, resolve disputes and enforce our agreements. In practice this could be throughout your lifetime, but this does not prejudice your right to request that your personal data is no longer processed by us (The Right to Object).

Your Rights

The GDPR extends your rights in respect of your personal data. It should be noted that these are qualified in so much that they do not necessarily apply in all situations. The ‘rights’ are listed below.

- Right to be informed;
- The right to access;
- Right to rectification;
- Right to erasure;
- Right to restrict processing;
- Right to data portability;
- Right to object; and
- Rights related to automated decision making.

https://ico.org.uk

Exercising your rights and access to your personal information

If you wish to exercise your right to access to your personal data, please contact the Data Privacy Manager. We will then contact you to check your identity and may request documents to prove it. For all other queries regarding our processing of your personal data and the exercising of all of your rights, please contact the Data Privacy Manager.

Your options if you have a complaint

If you do have cause for concern or a complaint regarding the way we are handling your personal data, we ask that you contact us in the first instance. This way we can resolve any issues at the earliest opportunity.

If you are still unhappy, or you do not wish to contact first you are, in any event, entitled to complain to the ICO. You may also seek judicial remedies against us or any of the third parties we interact with on your behalf, for damages (both material and non-material) arising from breaches of the GDPR. For more information please visit the ICO website using https://ico.org.uk.

Self Build Mortgage

We’ll help you to realise your grand design.

A self build mortgage enables anyone to embark on a ground-up building project, by providing funds for you to build instead of to buy. With a self-build mortgage, unlike many development finance products, there is no prior experience necessary.

Regulated by the FCA

How can we help with your Self Build Finance?

At New Mortgage Finance, we have first-hand experience of financing and developing self build projects and can advise on a comprehensive range of financial products to match your needs. Self-build properties are a great way to create a totally unique and bespoke home and can dramatically increase in value once completed .

Get in Touch

Arranging finance and providing support from the time you purchase a plot of land, right through to the completion of your self-build

Where required, we can arrange a remortgage on the completed building, transitioning you to the best mortgage product for your self-build home

Lenders require significantly more information for a self build mortgage in comparison to a regular mortgage and New Mortgage Finance can hold your hand through every stage

ANSWERS

What is a Self Build Mortgage?

Self-build mortgage products can be used for barn conversions, large renovation projects or a ground-up self-build.

Much like the standard mortgage products, self build mortgages can come in all shapes and sizes to suit your particular circumstances or build requirements. A short term of only 12 months, interest only, no early repayment charge and all the options in between.

How do self build mortgages work?

A self build mortgage is very similar to a regular residential mortgage. At the beginning of the process, we will agree on a facility, based on the estimated final or end value of the property. Self – build mortgages are based on your annual income much like a regular mortgage, usually with a maximum loan to value of 80%.

Once agreed, the funds for your self build project will typically be released in key stages:

Land (with the minimum of outline planning permission)
Substructure.
Wallplate/eaves height (just before the roof trusses go on)
Wind and watertight roof tiled.
First fix.
Second fix.
Certified completion.

However, we do work with a small selection of lenders who are happy for you to release funds for your self build project inline with your own specific requirements. If the lender is specifying drawdown of funds at key stages, a valuer will be sent out after every stage is completed. The benefit of this is that if the valuer believes that your self build property has increased in value, then you may be able to draw down additional funds if necessary.

Who is a Self Build Mortgage for?

A self build mortgage is suitable for you as long as you are 18 years or over and have sufficient income to pay your self build loan back (most lenders require that your loan be no greater than 4.5 x your annual income). You will usually require a deposit of at least 20% of the purchase price, plus sufficient savings to ensure you can cover any related costs, prior to receiving the first drawdown of funds from the lender.

“"Max and his team guided me through a very complex mortgage deal. The end goal was set out at the start, and we got there in the end. I firmly believe that no other broker would have persevered with this case and got the result that they did, and I applaud New Mortgage Finance for that and cannot thank them enough.”"

– Jordan C

Why use us for your Self Build Mortgage?

Realise your grand designs

As a specialist self build mortgage broker, New Mortgage Finance works with all the lenders you would expect, but also smaller, niche self build mortgage lenders like local building societies. Whether you are aspiring to live in a Huf Haus or prefer the idea of lateral living and are building your own bungalow, we can work with you to make your dream a reality.

Support from day one until build complete

With many of our self build mortgage advisors having personal experience of building their own homes, we know it can be more complicated, in terms of lenders’ specific criteria. That’s why we hold your hand throughout the whole process. We work together with you, liaising with relevant third parties such as surveyors, insurance companies and solicitors. We’re in it together.

Flexibility you can trust

If you are looking for the best self build mortgage deals, you need a product with no early repayment charges or what you really need is an interest only self build mortgage, we’ve got it covered.

Got Ideas?
Get in Touch and Tell Us Your Plans

Our experienced and expert property development finance team will work quickly and efficiently to search the market, liaise between you and the lender and ensure every last detail is taken care of to get your plans off the ground.

Arrange a Callback

Please fill in the form below and one of our team will call you back within 24 hours.