Accelerator mortgage wins award

Self build finance specialist BuildStore has won another award for its Accelerator mortgage in Homebuilding & Renovating’s Self Build Product Innovation Awards 2010.

The Accelerator has been backed by a number of lenders, including the Skipton Building Society, the Bath Building Society, the Hanley Building Society, the Melton Mowbray Building Society, and the Saffron Building Society, in link ups with BuildStore to provide funds for the mortgage.

BuildStore said the Accelerator mortgage offered homebuilders chunks of money to finance each stage of the project, from the purchase of the plot or renovation property, through to completion.

Award judge Michael Holmes, editor-in-chief of Homebuilding & Renovating magazine, said:

“The Accelerator Mortgage has opened up the world of self-build to thousands who would not otherwise have afforded to build and as such is a truly worthy winner of the Finance category in the Self-build Product Awards 2010.

“It’s rare that a product can truly be said to help bring dreams to life, but in this case it’s no overstatement: there are thousands of self-build homes that quite simply would not be here today were it not for the Accelerator mortgage.

“This award also gives recognition to the important role played by Buildstore Financial Services in bringing new lenders into the self-build market, and in developing new financial products tailored for the specialist needs of self-builders and renovators.”

Chief Executive of BuildStore Raymond Connor, said:

“We are delighted to have won this award for our Accelerator mortgage, and to get recognition from the industry as having one of the best products on the market. We would like to thank our panel of lenders who have worked with us to support the Accelerator mortgage. In what has been a tough market for mortgage lending overall, the funds from lenders has allowed us to maintain the Accelerator offering, and self build has continued to thrive.”