SYS Private

We have the experience to be your trusted adviser

We have the experience to be your trusted adviser

Let us support you as you build your home

Building your own home can feel like a huge undertaking - we support you on the journey

You have the site, you have the plans; you are so excited, you want to move in already, but if there’s one thing that building your own home teaches you it’s patience.

When it comes to making an application for a self-build mortgage, it really pays to have an experienced mortgage broker on your side. There is more documentation to supply than for other mortgage applications and you will need to make some strategic decisions that will avoid stress and panic down the line.

As mortgage brokers, we have access to all the lenders offering mortgages in the Irish market. Not only does that give you choice, but our knowledge of what each one deems important means you’ll get a quicker response and are more likely to be successful.

Talk to us today about getting mortgage ready and borrowing what you need to build your dream home.

"Home wasn't built in a day" Jane Ace

Mortgages for self-builders: need to know

Every lender must adhere to the Central Bank of Ireland lending criteria. They are currently as follows;

✓  Maximum borrowing is 4 times your gross basic income if you are a first-time buyer or 3.5 times if you are not. If there are two of you buying, then you can borrow up to 3.5 or 4 times your combined income depending on your status.

✓ Maximum borrowing is 90% of the value* of the house. This is also known as 90% loan to value (LTV).

Please note that these are maximum figures, and it is the lower of the two that will dictate how much you can ultimately borrow. The good news is that lenders have some leeway to accept a lower deposit or to lend more. We can explain more about this when we speak to you.

In the case of a self-build, the property value is typically calculated as the lower of:

  • the site purchase cost (if applicable) plus build costs 
  • the final valuation upon completion

Because your site is a valuable asset, it can be considered all or part of your deposit by the lender. You will need to get the site valued to confirm exactly how much it is worth. It is advisable to have full planning permission for the site if you are hoping to use it as your deposit – it’s all about reducing the risk for the lender.

If the site has been gifted to you, we may need a signed letter from the gifter confirming this.

Where the site is gifted by the parents or a family member of one applicant, or has been acquired by one applicant, you can still apply for a joint mortgage – it is called a joint mortgage sole title application.

A self-build mortgage differs from a regular one in that the funds are released at certain phases in the build to enable you to get to the next point. This has the advantage that you will only pay interest on what you’ve drawn down. 

The phases differ slightly from lender to lender but in general they are:

  1. Foundation stage
  2.  Wall plate
  1. Roof on and windows and doors fitted
  2. First / second fix
  3. Completion

At each stage your engineer will complete a stage payment request form. This is sent to the lender and the funds are released to your solicitor’s account.

There are generally three valuations to be done during the course of the build:

  1.  Prior to the start of the build or at foundation stage
  2.  When the house is sealed ie the roof is on and windows and doors are fitted
  3.  Completion  – This is important! The lender will retain the last tranche until it has confirmation from the valuation report that the house is completed.

SYS charges a fee to cover researching the best lender for you, helping you prepare the mortgage application and looking after your application from the initial enquiry right through to submission. This is payable when we submit your application to the chosen lender. This information is available in our Terms of Business. 

Getting organised

What do I need for a self-build mortgage application?

If you are applying for a mortgage to build your new home you will need all the usual financial documentation plus the following specific items:


✓ Valid passport or Irish / UK driving licence

✓ Address – A bank / credit union statement (original, not a copy) or a utility bill or home phone bill (again, originals)

✓ PPSN verification – eg a payslip

✓  Marriage certificate if any documentation provided for the application is in the applicant’s maiden name

✓ Separation agreement or maintenance agreement if applicable

✓ Experian credit check if applicant(s) has resided in a foreign country within the last three years or where the applicant(s) holds a foreign property and / or bank accounts

✓ Financials – six months’ statements for all bank / credit union / post office / mortgage / loan accounts / Revolut accounts / Creation Finance accounts held

✓ Your last three months of credit card statements, if applicable.

✓ Signed gift letter if funds are being gifted towards the house deposit

Lease or rental agreement if rent being paid or received is not visible on your bank statements

Self-build documentation required

✓ Cost of construction form as completed by your architect / engineer or surveyor, and the purchase price of site the site if applicable

✓ Confirmation of planning permission – we will need “notification of decision to grant planning” for the initial application. However, on approval of your application, we will require a copy of the full grant of planning permission

✓ House plans and specification and site maps

Get started! Let us help you find the best self-build mortgage for you.

It is our mission to provide you with the best financial advice on the market

Call our trusted & experienced advisers today

Latest News and Insights

Our consultants have written a variety of blogs, to help you to understand the nuances between different services. If you are still unsure about any service, please email us on or ring us on 067 57057 

Latest News and Insights

Our consultants have written a variety of blogs, to help you to understand the nuances between different services. If you are still unsure about any service, please email us on or ring us on 067 57057