Hi - just a quick question if anyone in the know can help please.
We are looking to have a house built, and not sure about how mortgages work for this.
When we arrive we'll be living in rented until we either buy a house & land package or buy land then build separately.
Either way, obviously we'll be paying out rent - so do we also have to make mrtge pymts on top of this while house is being built (which would obvoiusly work out v expensive and so probably not affordable at all) or can mrtge pymts start once the house is built and ready?
Probably daft to think the bank would wait - but worth an ask coz I have no idea how it works when you have your house built!