Mortgage for a Log Cabin

lostinrates

Just noticed I changed the wrong figures in quote above....I was suggesting 2k for the ineritance and 80k for the log cabin....wanted to correct it here rather than confusingly edit again. (its because in over hasty edit I changed the wrong figure ).

Incidently WHY don't your in laws have wills? With children and not necessarily straightforward with the two children from previous relationship, and the considerable asset o the house this really is rather ill advised.

Staciep88

I have ask why they havent got them and they think they dont need them as 'it will be left to the children' i told them this is not the case but they won't have it. They don't think the government will take it / a share of it. Thats why I dont want their names on anything. Hope im not sounding selfish

lostinrates

Staciep88 wrote: »

I have ask why they havent got them and they think they dont need them as 'it will be left to the children' i told them this is not the case but they won't have it. They don't think the government will take it / a share of it. Thats why I dont want their names on anything. Hope im not sounding selfish

Ask your OH and his siblings to correct this misconception. It would. The government taking a share isn't really the issue here, its that should MiL survive FiL his older children are left uncatered for. It is not the money but the acrimony this causes which is truely devestating for families. (well the money and the assets too, but really, I have seen first hand the devestation such a presumption causes, its very bad)

paddy's_mum

Stacie - I'm sorry to say it but in the landowner's shoes, I wouldn't be giving you a large chunk of my land either! I'm also quite sure that your £20k wouldn't buy you a one acre building plot.

You are still an untried baby at only 19 years old and not yet married to their son. It's all very well thinking that they 'ought' to be giving their boy a leg up, but perhaps they think that having got into real debt (you mention £7k in another post) he needs to be doing a bit more growing and wising up before they will even consider it. Perhaps they also feel that if they give him an acre, they should do it for all the other children, from this marriage and from the previous one.

Perhaps, quite simply, they don't want to sell the land to anyone. My father always told me "never sell land 'cos they aren't making any more of it"! Time after time in my life I have seen people sell off a bit of ground and then watch someone else make a killing on it. Why would they think that selling to you - not yet a member of the family - is the way to go? I also feel that your comment about "I don't want other people involved" is incredibly naive since your plans amount to nothing without the involvement of these particular others.

I keep on getting this niggling feeling that you are prepared to practically bulldoze them into giving over the land that your plans require. Maybe you and your partner would be better renting somewhere for a few years, work and save like crazy, and show them that you are made of the right stuff. Then, and only then, when you can show a proven track record, ask them again about buying some land at the market price.

I truly don't mean to knock you and indeed admire your determination to achieve something worthwhile, but just feel that you are perhaps going to alienate your future in laws if they perceive your wishes and plans as demands or orders.

Staciep88

paddy's_mum wrote: »

Stacie - I'm sorry to say it but in the landowner's shoes, I wouldn't be giving you a large chunk of my land either! I'm also quite sure that your £20k wouldn't buy you a one acre building plot.

You are still an untried baby at only 19 years old and not yet married to their son. It's all very well thinking that they 'ought' to be giving their boy a leg up, but perhaps they think that having got into real debt (you mention £7k in another post) he needs to be doing a bit more growing and wising up before they will even consider it. Perhaps they also feel that if they give him an acre, they should do it for all the other children, from this marriage and from the previous one.

Perhaps, quite simply, they don't want to sell the land to anyone. My father always told me "never sell land 'cos they aren't making any more of it"! Time after time in my life I have seen people sell off a bit of ground and then watch someone else make a killing on it. Why would they think that selling to you - not yet a member of the family - is the way to go? I also feel that your comment about "I don't want other people involved" is incredibly naive since your plans amount to nothing without the involvement of these particular others.

I keep on getting this niggling feeling that you are prepared to practically bulldoze them into giving over the land that your plans require. Maybe you and your partner would be better renting somewhere for a few years, work and save like crazy, and show them that you are made of the right stuff. Then, and only then, when you can show a proven track record, ask them again about buying some land at the market price.

I truly don't mean to knock you and indeed admire your determination to achieve something worthwhile, but just feel that you are perhaps going to alienate your future in laws if they perceive your wishes and plans as demands or orders.

Im not asking them to give it to me, im asking them to give it to us. They have said they don't have a problem with us building on the land but there was an issue with whos name goes on what. They have built a 2 bed bungalow for OH sister and her fiance and charge next to nothing for it. With regards 2 the two other siblings - they live in london and are married with their own children and houses. They want us to build there, its just an issue about the names.

I feel that your comments about me being an 'untried baby' are slightly unfair as I don't feel this is the case and Im trying to get our accomodation sorted now so that it's not something we will have to be worried about in the future. Looking at getting the mortgage for 10 years - sorry but in my eyes mortgage free at 29 is pretty good going.

Maybe an acre is too much, but all Im saying is if Im bringing cash into this, then i feel our names should be on the land and then it is fair. We are willing to pay for the land if we have to go down that road but they insist they don't want anything for it which is why I cant see the problem.

Me and OH have been living together and renting for the last 3 years now and we want to get out of it and start planning for a family next year which is why we want a secured home sorted now, and obviously with it being cheaper as its a self build monthly payments will be easier to keep up with during my pregnancy.

I do appreciate your comments but I feel that you are speaking a little unfairly towards me. I just want a secure home to live in with my parnter

paddy's_mum

Stacie - my comment about your youth was not intended to be unfair or hurtful. I was once 19 too and when I look back, I'm amazed that I ever survived my foolishness and mistakes to get to the older and wiser state that I now am.

I suspect that there are as yet undisclosed reasons why the landowners are not willing to go down the legal route with you. Are they willing to give or sell the land to your partner in his own right? Would they feel differently if you were to get married first? Are they (secretly) trying to prevent some of their land ending up in your ownership if the two of you split up? Do they just loathe the idea of solicitors, deeds, settlements, legal documents?

As I already stated, I admire your goals but I do think some courteous but straight speaking needs to be done with your partner's parents - if the two of you don't or can't find out what is really in their minds, you can go on for the next ten years guessing, hoping, planning and that's not a happy place to be, is it?

shamac

Hi
we live in a log home-not a cabin but a full 3 bed, 3 bath house. Our mortgage is with the ecology who I can recommend but they have v stringent lending criteria, such as the timber being from a sustainable source. Have a look at their website or ring them, they are very helpful.

lincroft1710

Stacie - if you look at the online brochure of the log cabin manufacturer you will see in FAQ that in fact they are officially holiday caravans - they are on steel chassis with wheels. The manufacturers also state that for all year round use you should purchase an improved insulation package. Although it is claimed "they will last a lifetime" I doubt you would get a mortgage on one.

hethmar

They seem incredibly expensive for what they are.

Ian_Griffiths_Halifax

For what it's worth Stacie, you come across as the maturest 19 year old I've come across in a long time. You know what you want. You have reasons for wanting it. You're planning ahead. It's probably just taken them by surprise as at your age you'd expect a 19 year old to be out on the razz every week and still sponging off parents.

As for the financing, I haven't done anything like this before but I suspect that Black Horse would do it but as a loan.

Have you considered a Straw House?