I want to buy some land for £75,000 but it only has outline planning. I do own my own house, but don't know the best way to do this?

Posted on 20 July 2015 by Kathryn


Hi I own my own house worth about £155,000. I want to buy a piece of land valued at £75000 and would like a mortgage of around £100000 to start building before I sell my house to raise the rest of the capital needed to finish the build. The land has only outline planning. I don't want to spend out on architects and wait for plans to be submitted etc before purchasing the land in case someone else buys it from under us but it seems a self build mortgage would require plans that have been consented by the council. Would the best option be to raise a mortgage on the house I own to pay for the land and start the build and then wait til my house sells to raise the rest of the capital needed? Or could I get a self build mortgage without having consented plans?

Certainly the way with least amount of hassle, and the most speed would be to raise the £100,000 on your existing property, however as it would need to be a penalty free product, the rate isn't likely to be a low as the normal residential rates that you see advertised.

This does look like something that we should be able to assist you with, & I would recommend that you contact one of our consultants on 0344 346 3672 and they can give you a more exact idea of how we can help you get the land you're after.

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