Barn storming for a mortgage

Andrew and Julie Cryer came up against a brick wall when they tried to find a mortgage lender to help them turn an old barn into a five-bedroom home, writes Emma Tyrrell.

Mr Cryer, who is a builder and plans to do most of the work himself, was convinced the barn in Hebden Bridge, West Yorkshire,would eventually be worth up to £300,000. But it would cost him £70,000, and ordinary banks and building societies would only lend them up to 60% of that.

Renovating an old building and turning it into a family home is a long-held dream for Mr Cryer. "I've seen too many old barns left to fall down round here, and I'm not a big fan of new houses," he says.

Eventually the Cryers (left) tried the Ecology Building Society, which specialises in lending to people wanting to renovate old buildings. It lent him £63,000 upfront, and he expects to need a further £40,000 in various stages to pay for materials and labour.

In total, including £20,000 worth of free building work Mr Cryer did for the original owner, the project will cost the family around £130,000. He is doing most of the work himself at weekends and in the evenings, although he did get some help to put on a slate roof.

The Cryers, who have two children, Gemma, 11, and nine-year-old Adam, are hoping to be able to move in in February. Until then they are living in a caravan on site, but no one seems to mind. "It's a big adventure," says Mr Cryer.