Can i get a mortgage for a plot of land?
I already am a home owner and am looking to buy a plot of land to build my dream home.
I have around £13,000 in savings and have just found a plot for £45,000.
Question is: Can you get a mortgage just to buy the plot of land? Ie 45k – 13k i need 32k loan.
The plot is to buy land just now and sit on it for a while, then the thought is to sell my house, then the money from the house goes into the buld, this being around £140k. When im ready maybe in around a years time.
Is there any loan companies or building societys that offer loans for this?
Or a loan company that will lend more than 25K on a personal loan?
Uk people to answer only please.
Thanks for help, any links or leads much appreciated.
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Tags: 25k, building societys, buld, dream home, land mortgage, loan companies, loan company, Loans, money, mortgage, personal loan, plot of landTags: 25k, building societys, buld, dream home, loan companies, loan company, Loans, money, mortgage, personal loan, plot of land
Most lenders will offer mortgages for land. You are proposing about 28% down. That should be enough of a down payment. Without more information about your income and other debts, I can't say if YOU con get the loan.