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How does getting a mortgage for land and then build costs work?

If you find a piece of land planning permission attached - how would you go about ghetting a mortgage to cover the land purchase and then build cost?

Asked on Aug 16 2012, Home Finance in Leominster | Report content

Answers (1)

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  • This depends on a few things, firstly will the property be used for yourself after completion of the work (i.e. your main residence) or will it be sold? What lenders will typically do is lend a % of the land value on day one and then release further monies as the development of the work progresses. If you would like to chat through this in more detail please get in touch.

    Answered on Sep 5 2012, Report content

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