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If you owner build, without the right permits, and then tried to refinance, the bank may find out, as suddenly having a house on what they thought was a vacant block might make the assessor ask questions. If you went to a second bank, it might be ok, but why go to the trouble of owner building...

Im not sure what you mean by unable to sell it. If you cant sell it, (as opposed to not wanting to sell it) the bank cant/wont value it. the best you could hope for is land value. Valuers probably wouldnt check licences, they would leave that up to the lender, or most likely the lender will...