Burrowing money for land ....

bouncing_bubbles

Hi,

I'm hoping to 'fly the nest'.

However I have no desire to live near neighbours so want to find a plot of land (ideally a few acres) with a chalet/mobile home.

However I am unsure of the best way to burrow against this.

I have a deposit of £25k and earn £35k pa in a permanent job, no debt, credit card cleared each month etc. I know I can burrow a hefty amount for a mortgage for a house - previously had mortgage approved and was progressing in purchasing a house but it fell through - house was in process of being reposed and they wanted me to pay an extra 12k on top of agreed price.

In my head land is also a better investment than houses, new houses are always built new field’s aren’t.

Anyway after house fell through I decided it wasn’t meant to be and had a long hard think about what I wanted and decided I wanted some land and a chalet.

All ideas welcome.

Thanks in advance.

CBR600F_2

Have you got myxomatosis or something?

bouncing_bubbles

No? Why?

I have a demanding and stressful job and want to come home and be able to put dinner on while playing with the horses and avoid everyone unless they are invited.

justjohn

land prices are drooping at a slower rate than house prices.

bouncing_bubbles

Around me land prices are on the up.

grey_lady

It probably depends where you are, I take it your not in the south east?

But beware, you cant just buy a field for a couple of grand and stick a chalet on it - that would upset the planning bods.

There's a book you might want to google - i think its called from field to farm that gives lots of advice.

bouncing_bubbles

No I'm not, I'm in the South West - I know that you cant just buy some land and bung a chalet on it. Im kind of hoping I can get somewhere with one alreay on and hope it helps with burrowing against it.

Saying that a few travvelers have done exactlt that around here and nout is done.

Thank you I will have a gander.

CBR600F_2

Are you a 'traveller' or a member of another protected, above-the-law minority? Because if you're not you can bet your bottom dollar (which is probably at the bottom of a burrow somewhere) that they'll come down on you harder than a skip-full of Lonsdaleite.

I mean, you should be able to do something like that. In an ideal world. But this is Britain, and someone claiming authority is going to get get involved in your private business and prevent you from doing what you want to do, lest you should risk hurting yourself, or offending someone, or just simply to extricate as much money from you as possible.

maninthestreet

A few acres of land with a chalet on it?? How much do you think that will cost in the SW??

bouncing_bubbles

Nope, I'm just joe public.

I dont want to buy land in the hope of getting planning (as I know what ball ache that is). I want to get land with one already on.

It depends what area of the South West and how many acres, I know of a few in the region of £150k - £175k. I can get a mortgage for 170k (for a house) with no problems. I know what I can afford to repay mortgage wise and allowing for increases in interest rates etc.

I just want to know the best way to secure a mortgage on land, not everyones dream but it is mine.

Simon_gloster

For land or self builds you are looking at 20% deposits. The lender will only lend in stagea on the anticipated finish structurw and release the money in 4 equal stages to you.

If its land and land only, see a broker.