We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Self Build Mortgages
Comments
-
Hi Conrad--
regarding self-build, I am just looking into these mortgages-you seem to know, so wanted your opinion please.
I bought a house for £365k (mortgaged at £292k) and wish to demolish it to put up a pair of semis (build cost £320k). I have £150k saved towards the project. Estate agents have valued each house at £400k--that is a conservative, to-sell price under current market conditions. So--total borrowing £462k.
Barclays are current mortgagees--when we took out the mortgage Dec 07, the adviser said that they were content with the concept of the plan and the need to split the plot. They won't do it now, under "current" lending policy. So need to start from scratch--do I have even a chance of raising the finance?? If so, who would you recommend approaching? No previous bad credit, etc.
Many thanks
J0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards