Obtaining a mortgage for a self-build project has not become more difficult as a result of the credit crunch.

That is the opinion of Homebuilding.co.uk, which has suggested that this is because the majority of these properties "have an inbuilt equity from scratch" which can be up to 30 per cent greater than the cost of the mortgage.

As such, they are very appealing to mortgage lenders, particularly at a time when house prices are not very stable.

Editor Jason Orme explained: "Lenders in these kinds of times tend to view self-build as a fairly safe bet. Self-builders tend to be building houses that have an inbuilt equity from scratch. Self-builders tend to benefit up to 25 to 30 per cent in terms of the equity – the cost of the mortgage compared to the end value [of the house]. That really is viewed as a good thing in difficult times by lenders.

"In terms of the actual market itself, I believe there are still lenders who are still offering 90 per cent mortgages, and quite possibly 95 per cent mortgages, in terms of loan-to-value."

Rightmove''s May House Price Index, released today (May 20th), revealed that from April to May the average asking price for a newly marketed property rose by 1.2 per cent.