The move aims to provide greater choice for clients wishing to build their own home.

The discounted variable rate products are available for customers in England, Scotland and Wales.

All are suitable for self and custom builds, renovations, conversions and home improvements.

The new rates start from 3.95% (reduced from 4.64%) and repayments can be interest-only throughout the duration of the build. 

The range — which also includes ERC-free products — provides up to 80% LTC and guaranteed stage payments through the build with no valuation required during construction.

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Chris Martin, head of product development and underwriting at BuildLoan, said: "A huge number of people in the UK have an appetite to build their own home, but are concerned that self-build finance is costly. 

“This revised mortgage range funded by Chorley Building Society demonstrates that financing a self-build does not have to be expensive.” 

Julie Goodwin, head of business development at Chorley Building Society, added: “We are continually looking for new ways to improve our product range and support the self-procured housing market, in partnership with BuildLoan.”