Vernon Building Society cuts self-build mortgage rates by 0.15% to support homebuilders

29 June 2026

Vernon Building Society has reduced the pricing across its entire self-build mortgage range by 0.15%, making its specialist lending offer more competitive for customers planning to build their own home, renovate, convert or undertake a major rebuild.

The change applies across the Vernon’s self-build products and reflects the Society’s commitment to supporting customers with flexible, practical funding solutions throughout the build journey.

The Vernon’s self-build mortgage range is designed to support a wide range of projects, including modern and non-standard construction, conversions, renovations and rebuilds.

The products offer stage-release funding of up to 85% per stage, with interest-only payments during the build, helping customers manage costs while work progresses.

The Society also allows a portion of a borrower’s savings to be ring-fenced and included in affordability assessments, without needing to be spent upfront, which can help improve borrowing power on more complex projects.

Applications are supported by flexible and personal underwriting, with the Vernon’s Intermediary Sales Team on hand to help brokers and their clients through the process.

Brendan Crowshaw, Head of Mortgage and Savings Distribution said:

“Self-build projects are often highly individual and can be complex, so we’ve designed our lending to be as flexible and practical as possible. By reducing pricing across the range, we’re improving competitiveness while continuing to support customers with a personal, specialist approach that helps them bring their homebuilding plans to life.”

The current range with reduced rates includes:

BuildLoan 1.85% Lifetime Discount at 5.75%, 80% LTV, fee £1,999, 2% ERC for 1 year. Stage-release funding up to 85% per stage.
BuildLoan (accelerator) 1.66% Lifetime Discount at 5.94%, 80% LTV, fee £1,999, 2% ERC for 1 year. Stage-release funding up to 85% per stage.
BuildLoan large loan 1.76% Lifetime Discount at 5.84%, 70% LTV, fee 0.25%, 2% ERC for 2 years. Stage-release funding up to 70% per stage.
Mayflower 1.85% Lifetime Discount at 5.75%, 80% LTV, fee £1,999, 2% ERC for 1 year. Stage-release funding up to 75% per stage.
Mayflower large loan 1.76% Lifetime Discount at 5.84%, 70% LTV, fee 0.25%, 2% ERC for 2 years. Stage-release funding up to 70% per stage.

Rates and product details correct as of 26/06/2026.