funding land question

teb_2

we want to move and i'm just throwing ideas in the air in the hope that one of them might actually be doable.

if i found a small bit of land that cost the same as what my (mortgage free)house was valued at (just for arguments sake) how could i fund buying it?

then if i bought it, how could i fund building a kit house on it? only asset we have is the house really, no savings worth mentioning.

toonfish

if it has planning permission in place you could mortgage up to 95% of the land price and build costs on a "self build" basis. If you want tlo keep your current house in the interim you could raise the deposit on that, and repay it once the new property is finished

peterg1965

There are special 'self build' mortgages available which allow you to stay in your current house whilst your 'self build' is in progress. I think Skipton do one, these are specialist products. Type self build mortgage into Google and there will be loads of hits. This is something I have considered in the past it is a way of getting a dream home and making a handsome profit into the bargain. The hardest bit is getting the land (you are already doing well there) and obtaining the necessary planning consents.