help with mortgage for new build with occupancy clause

martbrad

I have recently received planning permission for a new house but I cannot get a mortgage to build the house as there is a 5 year occupancy clause in the planning permission. Does anyone know how to get around this issue

JA1000

I have recently finished building a house, right through the crash, builders went under, RBS paid them I am another £30k out of pocket.

Thought I would just cheer you up, actually it was a brilliant experience but the market couldn't have changed more during that time.

Back to you, what is this clause?

martbrad

The clause basically states that i have to live in the house for 5 years which means that the bank is saying that if i defaulted they wouldn't be able to sell the house...

JA1000

Is it that YOU have to live in the house? Why this clause is it a local person clause or special area clause.

Do you not want to live there or they cannot guarantee it.

Can you solicitor get specialist insurance to cover it, I had to get an indemnity on my land. There are weird insurances out there.