Posted on 13 March 2010 by Dr Vara Ari
Identified plot of land for £100,000. Building cost £154000. Access to 109000 equity release frim present property. Annual salary £110000. Plan to build and sell. Need mortgage variable rate without tie in.
Depending on your personal circumstances, it should be possible to arrange the finance you are looking for. I note that you do not want any early repayment charges and should warn you that this may lead to a higher rate of interest than if you accepted a tie in of some sort.
I recommend that you speak to an independent mortgage adviser with experience of commercial lending.
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