Can You Get a Mortgage that Allows You to Demolish a House?

Answered on 10 July 2019

Can You Get a Mortgage that Allows You to Demolish a House?

Mortgage that allows you to Demolish a house

The short answers is 'yes' you can. Depending on what you are looking to do with the property once it's been built, we look to arrange either a "self-build" mortgage, or bridging / development finance. If you intend to live in it as your main residence, then a self-build mortgage is likely to be your main option, however if you are looking to sell it on or rent it out, then bridging / development is more the route to look at.

Lender considerations

There are a number of factors that lenders take into account when looking at thes, such as the end value of the new property, and the exit strategy,  i.e. will you able to remortgage if it's to be your main residence, or sell it, or obtain buy-to-let finance.

It's worth exploring your options in a bit more detail, and you can do this by contacting one of our consultants on 0330 433 2927 and they'll be able to give you a more detailed idea of how we can help you.

Ask The Mortgage Experts answers are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them. We recommend you seek professional advice with regard to any of these topics where appropriate.