Burrowing money for land ....

Fuzzyness

what makes you think you'll just be able to buy a filed and put a chalet/static on it. have you looked at your local authority's planning policies on development such as this in the open countryside. i think you'll find they are quite restrictive and will prevent you doing what you want to do. if it was easy everyone would be doing it.

Morgage_Confused

have a read here...it might be an option instead of a chalet.

http://www.ourproperty.co.uk/guides/the_wonders_of_living_underground_guide-p2.html

property.advert

Run down plot in the sticks which can be done up is about the best options me thinks.

bouncing_bubbles

One, sorry about the spelling, its an area I struggle with (we all have week areas) and the spell check on here wont work on my laptop. I could and probably should copy and paste it into a word document but that is very timley.

Two, I wasnt asking about planning, I was asking how I can obtain money to purchase land. If it doesnt having planning I can deal with that, I'm not going to shove something up with no planning. Full stop I want a feild, if I can live there its a bonus. If I cant I will go to plan B re a house.

Three, not everyone will get my thinking or what I want it does not mean you need to p*** on my idea. I'm not stupid enough to think its an easy thing to do or that if I put a buliding up, put a Chalet etc on it I will get away with it. I was asking for advice so I can get money to buy land. The rest is irrevalant. End of.

Thank you.

gwernybwch

bouncing_bubbles wrote: »

Three, not everyone will get my thinking or what I want it does not mean you need to p*** on my idea. I'm not stupid enough to think its an easy thing to do or that if I put a buliding up, put a Chalet etc on it I will get away with it. I was asking for advice so I can get money to buy land. The rest is irrevalant. End of.

Thank you.

But that's the point, the rest isn't irrelevant. When you go to any lender they are going to ask (a) What do you want to buy? (b) Why do you want to buy it? (c) How are you going to pay for it?

When you answer Question b "To live on it / park a mobile home / build a chalet", the lenders will start to ask a whole load more of questions, such it is legal to do so (ie does it have planning)?

If your still not prepared to accept the good advice offer here, this company is one of the largest lenders for buying land -
http://www.amconline.co.uk/

Good luck.

Conrad

bouncing_bubbles wrote: »

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.

Probably the maximum loan to value for land with a non standard home upon it, such as a challet caravan type thing, would be 60% and the interest rate will be at least double the norm.

In the case of pure land with no dwelling upon it, the rate will be higher still and again you'll need a big deposit, at least 40%.

CBR600F_2

I work in the equestrian business, and so I know how you ponyf*gs can be. And I think your idea is great. It's wonderful. Who wouldn't want to live in the middle of a sizable plot of land, surrounded by stupid herbivores, half of which have massive swinging sluggers?

But let's get down to brass tacks here. Your idea, though great, isn't well thought out. It's romantic, but not practical. This is Britain. And that sort of personal freedom is purely illusiory. You can't just do what you want. You'll have to wade through exactly fifteen metric sh*ttonnes of bureaucracy dreamt up by people on a whim, with the stress and expense that comes along with it, just for there to be a good chance to be told to get back to the kitchen.

bouncing_bubbles

Thank you for all your comments, as I have said all I wanted to know was how I could obtain money to buy land, yes ideally if I could live on it, it would be great, if I cant its no big deal.

I asked the question so I know what budget I have. If the budget doesnt cover a 'dwelling' thats fine, Im happy just to have a field full of grass and doing sweet FA to use as an 'escape'. Yes the interest rate will be higher as will the % that will need to be a deposit. Im fine will all of that.

The origional question was about getting money. Thats all I wanted advice on, so I could get a mortgage or whatever in principle. I could then have a look around and see whats about, yes I know of a few places but I didnt know if they were worth looking at. Im fully aware its not a walk in the park - else everyone else would be doing it.

highflyingsolo

Hiya, i can see that you didn't really get an answer to your original post - after all we aren't here to argue with your idea, we are here to try and help?

I am currently going through the process of purchasing a piece of land. I was going to sell my house but after 12 months on the market we have decided to let it out, as during these 12 months we have saved up a hefty deposit. The land we have found has a burnt out bungalow on it, and has, since burning out, had outline planning permission to build a 3 bed house, which has since expired. With planning, the land was worth 95k, but now the planning has expired its worth about 60k.
The only way of findingout about loan to value etc, is literally to speak to a mortgage broker and see what they offer you. You have a good income for a single person, but we were offered a 65% mortgage on land only. The reason why we were offered so much we are told, (as land often only gets a 50% mortgage) is simply because the land has had outline planning in the past, the surveyor has seen the houses around etc, and it is obviously a building plot, and has a high chance of getting planning again. It depends on the land, where it is, what its had on it - what the chances are of planning etc etc. It costs a lot to get planning too, around £500 for outline planning, and then a couple of thousand to get drawings done to apply for full planning.

Your only way of finding out is by speaking to a lender, and then when you find a piece of land you like then apply.

bouncing_bubbles

Thanks High flying solo.

To be honest I was suprised and slightly disapointed at the responces.

Your post has been very helpful.

I will start chucking money at my deposit now. Ive had a few fivolous months (new saddles for the horses etc) but now I will get back on track.

Thanks, Ive worked hard and am normally away between one and 3 nights a week with work - have been known to leave at 6.30 monday morning and returned at 8.30pm on the friday. Im hoping to get another promotion in the next 18-24 months.

Some friends brought a place with planning, by the time they had moved in, etc the planning had expired, but there had no issues re getting it.

I just want to know what bracket I can look at. When I know that I will have a look - I dont want to look aroun find somewhere fall in love and then cant raise funds.

Thanks again.