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Mortgage Valuation to include land purchase?
country_bumpkin_3
Posts: 1 Newbie
Hi There
I'm hoping to remortgage to obtain additional borrowing to buy a few acres of land behind my house (semi-rural barn conversion). I expect that this will materially increase the value of the house. As we're nearing an LTV boundary I'd like to know if it's possible for the valuation of the property to take into consideration it's value with the land?
Also, since we bought the property (and had it valued) 2 years ago there have been some changes that I think have moved the price upwards:
Thanks in advance for you input/help.
I'm hoping to remortgage to obtain additional borrowing to buy a few acres of land behind my house (semi-rural barn conversion). I expect that this will materially increase the value of the house. As we're nearing an LTV boundary I'd like to know if it's possible for the valuation of the property to take into consideration it's value with the land?
Also, since we bought the property (and had it valued) 2 years ago there have been some changes that I think have moved the price upwards:
- Removal of a large pylon and electricity line from right outside our back garden
- The private road we live on has now been tarmac'd (how do you spell that!) - it was previously a rubble/pot-holed track
- We now have an electric gate and intercom
Thanks in advance for you input/help.
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