Skip to main content

Self-Build Mortgage

Thinking of building your own home? You’ve come to the right place.

The letter P for PTSB carved out in a slate of black marble

Building your home is an exciting time. It’s your chance to build exactly what you need from the ground up and create the home of your dreams. We know every step of the process, so if it’s something you have always wanted, our experienced mortgage consultants are here to help you. Apply online or book an appointment in branch or in a place that suits you, and we can happily talk you through all you need to know.

A snapshot of the Self-Build journey

The self-build mortgage journey is a bit different to a standard mortgage with a few additional requirements. Our self-build guide (pdf, 621KB) will help you understand the journey from start to finish.

Starting with your mortgage application

Whether you have a site with full planning permission or just started saving your deposit, you can apply online or book an appointment with one of our mortgage consultants.

We will take you through all you need to know, from picking the right mortgage rate to explaining anything you are unsure of. Depending on how far along you are in the process, at your appointment we can give you an initial indication of what we could lend you or start with your mortgage application straight away.

Your application and mortgage approval

To make your application you will need to provide some documents. You can find the required documents here. Your mortgage consultant will be in regular contact with you to help with any questions you might have. When your mortgage is approved, you will be issued with a letter of offer.

Your build begins

Your build can then get underway. Each stage of the build is funded through stage payments until your home is complete. You only pay interest on what you’ve actually drawn down, not on the whole mortgage.

Stage Payments

You can receive your payments in 4-6 stages depending on your build. Here is an example:

  • 1st stage payment - Site purchase
  • 2nd stage payment - Demolition, site preparation and foundations
  • 3rd stage payment - Floor Level certified by your assigned certifier and requested through your solicitor
  • 4th stage payment - Roof Level. The shell or frame has been built
  • 5th stage payment - Finished property. Plasterwork has been completed and the property is habitable
  • 6th stage payment - Post completion. Final valuation and Certificate of Compliance issued

Each stage must be certified by your assigned certifier and requested through your solicitor.

What does our Self-Build Mortgage offer you?

With our Self-Build Mortgage you get all the great benefits of our mortgage for first time buyers. We are also here to support you every step of the way, so here are just some of the things we can offer you:

Clearer indication of your budget – After meeting with us in your local branch we’ll be able to give you a good idea of what we can lend you, so you have a clear understanding from the outset of what you can work with.

Stage payments - By releasing your funds in stages you only pay interest on what you’ve actually drawn down, not on the whole amount.

A mortgage consultant – We have a dedicated mortgage team to guide you through your mortgage journey and help you along the way.

Top tips to get your build going

  1. Choosing a good architect is crucial to the success of your build. Ask family or friends for recommendations or check out
  2. You should always aim to get at least three quotes for the job. Know the difference between an estimate and a quote: an estimate is only an educated guess, while a quote is an exact price.
  3. Stick to your budget. Double check how any proposed changes will affect the overall cost of the project.
  4. Check all building quotes for VAT. It’s important to know if the quotes include VAT or if you’ll need to add VAT on top of the quote given.
  5. The time of year will impact your building plans. Building during winter can mean heavy rain or extreme cold. This can slow or even stop a build from progressing.
  6. You can now start, and track the progress of your mortgage journey online with our new mortgage portal. If you start your application online, you will still have the option to meet a Mortgage Consultant in person.Or you can still book an appointment in branch or in a place that suits you.

Our self-build guide has more helpful tips like these.

What else do I need to know?

The above information is valid from 22 March 2024.

What you should know about our Self-Build Mortgage:

  • The minimum term for a loan is 5 years and the maximum is 35 years
  • The minimum loan amount is €40,000

Our maximum Loan to Value (LTV) is the lower of:

  • 100% cost of completing the build of your home, or
  • 80% of market value on completion
  • Where the site is being financed as part of the transaction the maximum LTV is the lower of:
    • 80% of the site cost and up to 100% construction cost, or
    • 80% of the value in repair figure

Please note maximum LTVs are subject to Central Bank of Ireland macro-prudential rules and as such certain additional criteria may apply.

Lending criteria, terms & conditions will apply. Mortgage approval is subject to assessment of suitability and affordability. Applicants must be aged 18 or over. Security is required and credit agreement will be secured by a mortgage or by a right related to residential immovable property. Life and Home Insurance are also required.

For First Time and Second Time Buyers a maximum Loan to Value (LTV) of 90% will apply to a property’s purchase price. The maximum LTV for customers who hold their current mortgage with another bank but wish to switch their mortgage to PTSB while also releasing equity is 85%. Maximum loan amount will typically not exceed 4 times an individual’s gross income for First time Buyers & 3.5 times an individual’s gross income for Second time Buyers.

The monthly repayment on a 20 year mortgage with Loan to Value (LTV) greater than 80% with variable borrowing rate of 4.70% on mortgage of €100,000 is €643.50 for 240 months. Total amount repayable is €154,799.06. If interest rates increase by 1% an additional €55.73 would be payable per month. For this example, Annual Percentage Rate of Charge (APRC) of 4.84% applies and consists of variable borrowing rate of 4.70%, valuation fee of €150, Property Registration Authority (PRA) fee of €175, and security vacate fee of €35. Please note – this APRC does not factor in the €8 monthly fee for maintaining the Explore Account.

Warning: The cost of your monthly repayments may increase – if you do not keep up repayments you may lose your home. 

Information correct as of 22/03/2024 but is subject to change.

Warning: If you do not keep up your repayments you may lose your home.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.

Warning: The cost of your monthly repayments may increase.

Ulster Bank Mortgage Customers

Here you will find details on the transfer of your Fixed or Variable Rate Mortgage, including helpful contacts, action needed and FAQs.

Self-build guide

Our guide to building your own home contains information on the self-build mortgage process, useful tips and much more.

Mortgage Interest Rates

Visit our mortgage rates page for more detailed information on specific mortgage rates.

Green Mortgage

Our new Green Mortgage offers new and existing home loan customers a lower fixed rate of interest if you are buying, building, structurally renovating or currently own a high energy rated home.

Home Insurance

There’s never been a better time to switch to PTSB with our All Around Protection policy. Switch today.

Help and Support

Need help? Our Help and Support section is full of useful information.

Life Insurance

We have a range of Life Insurance options to protect your income for you and your family.

Back to top
Page loading
Close takeover popup
PTSB logo

Altogether more human