Property/Land/New builds
22 April 2005, 05:59 PM
#1
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Property/Land/New builds
Hope someone here can help me out a bit ...
Basicaly I'm looking at buying some land and building a couple od houses on it. It's me and another person. So 1 house each.
Question is, can I get a mortgage on the land/building costs?
I.e. land is 150k build is 100k So 250k in total. Between the 2 of us we have about 75-80k and need to finance the rest. Once the house are built we'd obviously each go and get a seperate mortgage to clear this finance. Where can I get a loan like this as I'm sure a normal mortgage wouldn't apply.
Cheers,
Matt.
Basicaly I'm looking at buying some land and building a couple od houses on it. It's me and another person. So 1 house each.
Question is, can I get a mortgage on the land/building costs?
I.e. land is 150k build is 100k So 250k in total. Between the 2 of us we have about 75-80k and need to finance the rest. Once the house are built we'd obviously each go and get a seperate mortgage to clear this finance. Where can I get a loan like this as I'm sure a normal mortgage wouldn't apply.
Cheers,
Matt.
22 April 2005, 07:37 PM
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Originally Posted by MattN
Hope someone here can help me out a bit ...
Basicaly I'm looking at buying some land and building a couple od houses on it. It's me and another person. So 1 house each.
Question is, can I get a mortgage on the land/building costs?
I.e. land is 150k build is 100k So 250k in total. Between the 2 of us we have about 75-80k and need to finance the rest. Once the house are built we'd obviously each go and get a seperate mortgage to clear this finance. Where can I get a loan like this as I'm sure a normal mortgage wouldn't apply.
Cheers,
Matt.
Basicaly I'm looking at buying some land and building a couple od houses on it. It's me and another person. So 1 house each.
Question is, can I get a mortgage on the land/building costs?
I.e. land is 150k build is 100k So 250k in total. Between the 2 of us we have about 75-80k and need to finance the rest. Once the house are built we'd obviously each go and get a seperate mortgage to clear this finance. Where can I get a loan like this as I'm sure a normal mortgage wouldn't apply.
Cheers,
Matt.
some good advice on www.buildstore.co.uk
We just finished ours:
Last edited by Christ; 22 April 2005 at 07:57 PM.
22 April 2005, 07:53 PM
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Originally Posted by Christ
Yes, as Matt says released in Stages either up front or after a stage is completed..
some good advice on www.buildstore.co.uk
We just finished ours:
some good advice on www.buildstore.co.uk
We just finished ours:
That looks nice. Can you tell me how much that cost to build? (by PM if you wish).
Thank you!
Steve.
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